Jul. 22, 2023
Chairman Gensler and SEC, I am a household investor unaffiliated with any hedge fund, broker, or market maker. I’m writing to voice my support in favor of passing proposed rule S7-32-10. I am so pleased to see the SEC’s initiative to better regulate the opaque swaps market on behalf of American investors. We have petitioned the CFTC incessantly to fulfill their obligations with little to no success, so this proposed rule brings much needed relief to a dangerous area of the market place if kept unregulated. One may only need to look at the misuse of swaps - and lack of regulation - that resulted in the collapse of Archegos and consequently Credit Suisse to understand the dangers and need for supplemental oversight and regulation of the derivatives and swaps market. Requiring more transparency in swaps reporting as well as disallowing mis-reporting, manipulation, and fraud when communicating swap positions to chief compliance officers receives both my advocacy and vocal support. Thank you Gary Gensler and SEC for making earnest efforts in cleaning up the criminality in our capital markets through proposals like these. Hope S7-32-10 passes to restore much needed faith in our capital markets. Thank you, William