Aug. 3, 2023
Hello, As a individual investor it can feel as if the lack of transparency in the current market is designed to keep investors outside of Wall Street in the dark. Increasing the public reporting would only help the markets by increasing competition and accountability. It is the responsibility of the SEC to help protect retail investors from the historically corrupt behavior that occurs within our markets. Requiring the reporting of swaps is a step in the right direction but the job is not finished when it comes to increasing transparency and encouraging fairness and equal opportunity. Allowing facilities to hide and obscure large positions only damages trust within the system and endangers all money in the market due to improper risk management. I believe it would be difficult to find an unbiased person or entity who doesn’t support greater transparency. Those who are not in support of this proposal only hold that view point because they have something to gain by keeping swap data hidden. Now is the time to update markets and regulations in order to pursue a system in which all participants operate under the same set of rules and markets are priced according to legitimate supply and demand. The previous way allowing Wall Street to dominate and vacuum money out of the population are over. It is time to advocate for the rights of all investors in pursuit of free and fair markets that allow access to one of the greatest wealth building tools available. I support this proposal.