Oct. 31, 2022
October 31, 2022 To the Commission, As a very concerned citizen, I comment today, on this proposed rules to express the extraordinary need for absolute transparency in regards to Securities Lending. This is an area in the markets that is extremely opaque and harms investors. Security-lending absolutely needs to be reported every fifteen minutes and transaction-by-transaction as fraud is able to hide within aggregates and with long delayed periods between reporting. The cost and efforts to enforce this are far outweighed by the fraud that will be prevented. I have come to discover in recent years, that a cash-secured investment I may have sitting in a brokerage account, can and most certainly is, being lent-out for a profit that I never see or acquire. However, through this process, synthetic shares are created and the supply or scarcity of my investment is tampered with. This effectively damages my investment, with my own investment. That is a market that offers the investor no protection. Why would anyone want to continue investing in a scam market? The SEC's new strategic plan puts \"working families\" front and center, so let's do that and require these financial predators to report the lending of securities to short sellers, who by definition, are not investors and are the complete opposite. Full, and I mean, FULL transparency in the markets and with regards to reporting will benefit the retail investor by introducing many more risks to consider before investing. At the moment, the individual investor is dangerously unaware of risks that have been baked into the system in regards to legal loopholes and opaque reporting requirements. As the system currently stands, endless loops of synthetic share chains are created which place an ultimate risk on the current market structure through share dilution and failure to deliver. This can cause cascading collapses that threaten the existence of the entire market and global economy. The time has come to change all of that, with the proposed Rule today being implemented in an aggressively-transparent manner. This is why I fully support an extreme overhaul on this subject and suggest that the proposed rules go all-in on creating an extremely transparent environment in regards to reporting and reporting requirements for the questionable actions of Securities Lending. The public has emerged as front-line watchdogs monitoring the fraud and corruption taking place on Wall Street. With proper data, the Commission's job will get a whole lot easier. -Concerned Citizen #8