Oct. 28, 2022
October 28, 2022 My name is Jack Pieper. I am an individual investor in the US equities market. I urge the SEC to not only pass this rule, but enforce it. Having entities that outsource their recordkeeping to third parties is dangerous, both for them and their customers. The fact that 3rd parties can control all of the records is dangerous because it enables fraud. If records are not kept timely and up to date, it is almost impossible to audit a firm's positions to accurately assess risk before choosing to engage with them. People need to see where their obligations they they set in the market are going. Without it, orders can effectively just disappear. More reporting leads to less systemic issues at play. I urge the SEC to require these firms release as much data as they can concerning: - The name of the service providers - The location of the office providing these services. - Information regarding what services one firm provides to another. Thank you for your time. Jack