Oct. 28, 2023
File No. S7-04-23 – makes me deeply troubled, both personally and professionally. Firstly, as someone who identifies as transgender, I question the necessity of the heightened requirements around gender identity verification. Such invasive measures disproportionately target individuals like me, whose very existence continues to face societal scrutiny. By singling out trans people in this way, the SEC risks perpetuating stigma and prejudice rather than fostering equality and acceptance. Secondly, as a financial advisor, I see grave implications for the FINRA component of this proposal. The requirement for firms to submit detailed information regarding private fund offerings, as well as associated performance metrics, will result in redundant effort. Many of these details are already gathered and reported through FINRA's separate reporting channels, leading to superfluous duplication. This duplication will unnecessarily strain resources, slow down response times, and inevitably lead to inconsistencies arising from divergent sources of truth. Ultimately, the cumulative effect of these extraneous demands threaten to erode confidence in the marketplace, discouraging investment and undermining growth opportunities for all involved parties. As a community, we deserve better from regulators tasked with steering our economy towards prosperity. Instead, we seem doomed to wade through a quagmire of bureaucracy and excess.