Subject: Re: Prohibition Against Conflicts of Interest in Certain Securitizations File No. S7-01-23
From: Danny Tam
Affiliation:

Mar. 15, 2023

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To the SEC, 


There should not be any exceptions or exemptions to the rule for risk-mitigating hedging activities, bona fide market making & certain liquidity commitments. There will always be an entity, if not all entities, that will take advantage to their market making powers because it would be within the rules to do such which will not provide a level playing field for investors and will erode whatever faith there is left in a free and fair market. 


Thank you, 
Danny