June 27, 2023
The proposal for enhanced reporting of swaps involving publicly traded securities I fully 110% back.
Shady characters in the financial world cover their tracks in SWAPs and the whole system is being abused. One word for you SEC 'Archegos'. If there was at the time prior to their demise more publicly available SWAPs reporting it could have been stopped in its tracks. How many more 'Archegos' disasters are currently sat out there going under the radar due to lack of regulation and reporting (that's scary to think about) when it all comes out in the wash (and it will).
In summary I back this proposal in its entirety. It is essential that this shady practice is stomped out once and for all and fully transparent in form of publicly available reporting.If an institution makes and investment of a certain size in a company such as buying shares they need to register via SEC. Same principle needs to be quicky applied to SWAPs.
Best Wishes getting this over the line there are lot of large funds that don't want their dirty laundry being hung up for everyone to see. Remember remember Archegos....