The Securities and Exchange Commission has published a draft strategic plan and inviting comments. The first goal they list is “Focus on the long-term interests of our Main Street investors.” The use of this term is a bit mystifying. The SEC knows better than anyone that most “Main Street” investors entrust their money to financial institutions regulated by the SEC. Given the emergence of the fake interest group by that name, this suggests to us that “Main Street Investors” is a euphemism for what the SEC calls issuers and everyone else calls public companies. We will make this point in our comment and suggest that our readers do as well.
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Thank you for this. You are always on top of the issues Nell. I posted some initial thoughts at SEC Strategic Plan & Main Street Coalition Ignore Governance https://www.corpgov.net/2018/06/sec-strategic-plan-main-street-coalition-ignore-governance/ and hope to focus in this area more, now that proxy season is ending.