Jul. 19, 2023
Dear Chair Gensler, I am writing to express my support for rule S7-32-10 and to also express my extreme disappointment in the letter sent in opposition of that rule by several members of Congress. The proposed changes seek to address loopholes and vulnerabilities that enable high-risk practices and concealment of assets. It is imperative that we acknowledge that it is these high-risk practices that create systemic risk in the financial system, not the move to add transparency to markets. By advocating for stricter reporting requirements and actively working to implement these changes, you have the opportunity to restore confidence in our financial system. The members of congress opposed to this rule do not represent their constituents and seem to be aiming for the exact opposite. I urge you to prioritize the best interests of household investors over the concerns of a select few. Embrace this opportunity to demonstrate your commitment to a fair and transparent financial system that protects the livelihoods and investments of everyday Americans. Sincerely, Zach F