Oct. 29, 2022
October 29th, 2022 Vanessa Countryman, Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-0609 Re: Notice of Proposed Rulemaking on the Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition Against Undue Influence over Chief Compliance Officers; Position Reporting of Large Security-Based Swap Positions (File No. S7-32-10) Dear Secretary Countryman: I am writing in strong support of this new rule that would bring much needed transparency to the world of swaps. Swaps can be used to hide massive positions that are malicious for multiple reasons: 1) Can be used to create leveraged positions well in excess of already established thresholds or limits that can have catastrophic effects when they go bust. This happened just recently with Bill Hwang and Archegos. DON'T LET THIS HAPPEN AGAIN 2) Can be used to create positions that only institutional players have visibility of. If the SEC is in favor of creating an even playing field for retail, this should be a no brainer. Make these players REPORT THEIR SWAP POSITIONS OPENLY and prevent the CFTC to hide data until 2025. I promise you this will end in disaster if it goes unchecked. Sincerely, A Concerned Investor