Oct. 29, 2022
October 29th, 2022 Vanessa Countryman, Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-0609 Dear Secretary Countryman: I am writing in strong support of rules 9j-1: Precent fraud, manipulation and deception; 15Fh-4(c): prohibit undue influence over Chief Compliance Officer and 10B-1: Anyone with a SBS position exceeding a certain threshold should promptly file with the SEC disclosing certain information about their position. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) was enacted in part to improve accountability and transparency in the financial system. Consistent with that goal, as the SEC takes action to finalize its Dodd-Frank regime for security-based swaps, these proposed rules would address misconduct in the security- based swap market, promote compliance with the Federal securities laws by SBS Entities and increase transparency in the security-based swap market. If finalized, new Rule 9j-1 would prohibit fraudulent, deceptive, or manipulative conduct in connection with all transactions in security-based swaps, including misconduct in connection with the exercise of any right or performance of any obligation under a security-based swap. Proposed new Rule 15Fh-4(c) would prohibit personnel of an SBS Entity from taking any action to coerce, mislead or otherwise interfere with the SBS Entity’s CCO. Proposed new Rule 10B-1 would require any person, or group of persons, who owns a security-based swap position that exceeds the threshold amount set by the rule to promptly file with the SEC a statement containing the information required by Schedule 10B on the SEC’s EDGAR filing system. The filings will be publicly available. Proposed Rule 9j-1 would: • Prohibit a range of misconduct and attempted misconduct in connection with security-based swaps, including misconduct in connection with the exercise of any right or performance of any obligation under a security-based swap; • Prohibit manipulation or attempted manipulation of the price or valuation of any security-based swap, or any payment or delivery related thereto; • Provide limited safe harbors for certain specified conduct; and • Provide that a person cannot escape liability for trading based on possession of material non-public information about a security by purchasing or selling a security- based swap based on that security and cannot escape liability under the proposed rule by purchasing or selling the underlying security (as opposed to purchasing or selling a security-based swap that is based on that security). Proposed Rule 15Fh-4(c) would prohibit any officer, director, supervised person or employee of an SBS Entity, or any person acting under such person’s direction, to take any action to coerce, manipulate, mislead, or fraudulently influence the SBS Entity’s CCO in the performance of their duties under the Federal securities laws. Proposed Rule 10B-1 would: • Require any person, or group of persons, with a security-based swap position that exceeds a specified reporting threshold to promptly file a Schedule 10B disclosing certain information related to its position; • Provide that any Schedule 10B be filed promptly but in no event later than the end of the first business day following the day of execution of the security-based swap transaction that results in the security-based swap position exceeding threshold; • Require reporting persons to file amendments promptly in the event of any material change to a previously filed Schedule 10B. Schedule 10B would require persons to disclose certain information including: the identity of the reporting person and the security-based swap position, as well as the underlying loans or securities and any related loans and securities. The Dodd Frank Wall Street Reform was implemented to protect investors. These rules will enforce such protection and is extremely important to safeguarding our economic growth. Excessively large swaps are a threat to financial and national stability. I strongly support full transparency and public disclosure of this data. Sincerely, Lisa Larsen A Concerned Investor Sent from my iPhone