Oct. 30, 2022
October 30, 2022 As an individual investor I welcome the opportunity to comment on this Proposed Rule. It is very unfortunate, and to be honest, quite unacceptable from a regulatory organization, that previous comments on this Proposed Rule have vanished due to technical problems. One would expect SSAE-18 or similar controls to be in place in your organization as required for your participants. Such a failure in ensuring basic integrity and availability of submitted data is a humiliating failure of your Information Security Officer. Nevertheless, Id like to thank you for reopening the comment period on this Proposed Rule. As an individual, private, and foreign investor I bought my fist shares on the US markets back in Q1 2021. I fully support the SEC's efforts in this Proposed Rule including the all aspects of: a) Prohibiting fraud, manipulation, and deception in connection with security-based swaps, b) Preventing undue influence over Chief Compliance Officers, and c) Position reporting of Large Security Based Swap Positions. It is crucial the SEC not only duly investigates attempts to violate or actual violations, but also sets deterrent penalties for violators of the proposed rule. SEC fines are ridiculously low compared to the financial power of most violators. As a result, current fines are merely a cost of doing business for large participants. It is the SEC commitment to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. Since the 2008 financial crisis, the SEC has failed in achieving this. Non disclosed swaps allow over-leverage to stay hidden. Another global financial crisis is at our door. Some aspects of the markets lack an adequate regulatory framework. It is now time to do the right things for fair markets for everyone. BR, Concerned Investor