Jul. 19, 2023
Dear Chair Gensler, Certain members of Congress opposing proposed reporting requirement changes raise concerns about their commitment to safeguarding the financial system's integrity and stability. Neglecting stricter regulations, exemplified by the Archegos Capital disaster, can lead to systemic failure. Lessons from such events must not be ignored. It is imperative that you prioritize the well-being of household investors and ensure equitable markets. I strongly endorse your stance on security-based swaps and security loans, and wholeheartedly support transparent markets and the interests of household investors. The proposed reforms seek to promote fair competition, mitigate the risk of market manipulation, and enhance accountability in the financial sector. By advocating for and actively implementing stricter reporting requirements, you are working on the key issue for the overall stability and prosperity of the economy. Thank you for your attention to this matter. Sincerely, Lars Wohlfahrt