December 15, 2021
As a retail investor, this item is extremely important to me. How can I have faith in fair and equitable markets, when there is the possibility that Fraud still exists?
The fact that this rule is being proposed means that Fraud, Manipulation, and Deception are currently acceptable practices within the financial world.
Hedge Funds should be subject to the same reporting guidelines as any major company. They should not be able to hide, obfuscate, or rehypothecate their financial holdings in any way. If a Security Based Swap is being used as a tool for fraud, it should be banned instantly and perpetrators should be prosecuted, fined, and jailed. If Financial Institutions are using Security Based Swap positions to purposely mislead shareholders and retail traders, they should be punished. The punishment needs to be worse than the crime - otherwise it is \"just the cost of doing business.\"
The current state of American Financial system is very concerning. If something is not done to stop the Security Based Swap as it is used for Fraud, Manipulation, and Deception, the stock market will crumble and the U.S. will lose all credibility as a financial institution.