July 20, 2023
I am an international investor in support of rule S7-32-10.
The reproposal of rule 9j-1 is crucial in protecting the financial interests of household investors, and moreso critical in mitigating exploitation of available conflicts of interests between household investors and the brokers through which they are able to invest in securities.
The proposal of rule 15Fh-4(c) is critical in ensuring the upholding of laws and regulations set forth to maintain a fair market for securities. As stipulated within the proposal, a Chief Compliance Officer must be protected from coercion, manipulation, misleading, and fraudulent influences in order to fully execute their duties in upholding the Federal laws surrounding securities. The proposal of the rule to outlaw the aforementioned corrupt activities serve to mitigate corruption in the stock market, and the global economy.
Proposition of Proposed Rule 10B-1 is critical in ensuring investors are able to participate in a fair, transparent, and regulated market. As pointed out with the example of net-short debt activism on p.22,
while those holding a net-short position have a freedom to act in their own financial interests by assuming risks on a short position on a security which regardless of the divisive ethical debate of such behavior is well within the rights of good faith law abiding actors of the stock market, the proposition of additional transparency does nothing to infringe upon that right and serves to reinforce the SEC's mission statement: \"Protect investors. Maintain fair, orderly, and efficient markets. Facilitate capital formation.\" Public reporting of financial positions serve to incentivize integrity of all actors in the stock market, and as stipulated later in p.24, existing reporting regulations that do not require the owner of such large positions to publicly report the position, and such the addition of the rule serves to allow both the SEC and the public to develop a greater understanding of the impact of such an influence on the market they are invested in.
I fail to see a reason to reject these rules as they serve to reinforce and uphold the mission statement set forth by the SEC to \"Protect investors. Maintain fair, orderly, and efficient markets. Facilitate capital formation.\"