Oct. 9, 2022
October 9, 2022 To whom it may concern, First of all, thank you for the SEC's transparency on recent press release informing investors about technical error and comments missing. It is extremely disappointing to say the least for obvious reasons, but being transparent is the only way to win back trust towards SEC from investors and appreciate that I have high expectations that this blunder will not repeat again. We have seen inherently obscure swap positions becoming systemic risk for a long time, most recent example being the monumental blow-up of Archegos. It still baffles me that they can still exploit this kind of reporting loopholes and I advocate new 17 CFR 240.15Fh-4(c) (Rule 15Fh-4(c)) under the Exchange Act to provide more transparency to the market that has been plagued with obscurity that only benefits big players. Only concern is what is the SEC's enforcement plan? Will the punishment be enough to deter swap dealers and participant to follow the rule, or will we be finding it after the fact when SEC fines measly millions for billions of profit they have taken and they will be taking? Rule alone is not enough if there is no harsh repercussion that could deter the act of misreporting.