Subject: Comment letter, 33-10588 (s7-26-18)
From: Robert Rutkowski

Dec. 19, 2018

-----Original Message-----
From: Robert Rutkowski 
Sent: Wednesday, December 19, 2018 4:37 PM
Subject: Comment on proposed revisions to basic financial disclosure rules

Jay Clayton, Chairman
SEC Headquarters
100 F Street, NE
Washington, DC 20549
(202) 551-2100

Re: Comment on proposed revisions to basic financial disclosure rules

Dear Chairman:

Yesterday, the U.S. Securities and Exchange Commission (SEC) invited 
public comments on proposed revisions to basic financial disclosure 
rules, including the prospect of ending quarterly reporting. This move 
follows a tweet from Donald Trump in August calling for an end to 
quarterly reporting.

It’s one thing for a six-time bankrupt grifter who won’t release his tax 
returns to propose reducing disclosure for American companies. It’s 
another thing entirely for the SEC to take this proposal seriously. 
Donald Trump is a walking, talking case for bolstering, rather than 
limiting, corporate disclosure requirements.

Changing the reporting intervals won’t lead corporate managers to better 
plan for the long-term. That would require, among other things, 
reforming corporate compensation plans. But that reform is going 
nowhere, unfortunately, under current SEC leadership. Rather than 
indulge Trump’s whims, the SEC should focus on what investors are really 
demanding: more disclosures including on environmental, social, and 
governance issues like corporate political spending.

Thank you for the opportunity to bring these remarks to your attention.

Yours sincerely.
Robert E. Rutkowski

House Democratic Whip Office
Legislative Correspondence Team