December 30, 2019
Vanessa A. Countryman, Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-0609
Re: File Number S7-22-19
December 30, 2019
Dear Sec. Countryman,
Having just finished the process of buying my first home, I am very aware of all things financial. During the process I became educated on some of the finer details of finance and the role that proxy advisory firms play in the shareholder and proxy process. It is serendipitous that I'm educating myself on these firms at the same time as the Securities and Exchange Commission undertakes to correct their rampant overreach.
In addition to being a new homeowner, I work for a growing startup. These things together make me vigilant about planning ahead not only for short term "rainy days" but also for my long-term retirement years. I'm saving actively with a 401K plan and want to do all I can - and want the SEC to do all it can, too - to protect my investments.
Knowing how easily proxy firms can impact the investing decisions that impact retirement funds, without any true accountability and no alternatives for investors, these new rules proposed are vital to protecting investments and investors for the long-term growth of retirement savings. That growth should be the priority for any firm with a hand in financial management. Agendas, conflicts of interest, and a general lack of accountability in advising should all be eliminated with the new rules.
Sincerely,
Anthony Berardo
Ocean Township, NJ