I posted about the comment letters here and I have a LinkedIn update here, but, in addition, allow me to make a brief observation.

Vanguard filed a letter opposing. So did Citadel and Sigma Two. I have not seen any other large asset managers say boo. Their trade associations object, though, as you can see.

Fidelity apparently objected, strongly, though this letter is the only reason we know that; Fidelity itself has not submitted a comment.

We all can draw our own conclusions – and to be fair, the SEC continues to post letters so maybe there are some that just are not public yet – but my concern is that regulated entities may be hesitant to publicize disagreement with the Trump Administration.