Aug. 10, 2023
Hello, Of course we need anti-fraud rules. It is horrible that we even need to sift through comments as to whether reporting and anti-fraud rules are necessary. Prohibition on price manipulation??? Of course we need this. We need transparency to achieve this. Reporting on ALL swap positions must be mandatory- otherwise you leave the door open for the same actors who have been manipulating the market to continue to do so. Why allow the opportunity for manipulation to continue? We also need strict penalties for actors who do not follow the new rules- small fines do nothing to prevent bad behavior- and there is seemingly unlimited bad behavior in the market (we all know where to look, we just don't say it out loud). I would add that any congressman/ woman who is against anti-fraud rules in the market is painting themselves in a damning light. "Liquidity" is the blanket term used over and over again as the excuse for bending the rules, nonreporting, basically any excuse to continue abusing the market. "Liquidity" allows for rampant FTDs. "Liquidity" allows for naked shorting. Liquidity may be important, but it is time to stop allowing bad actors (several congress members in this instance) to abuse the term to continue abusing the market. I support this rule. I support reporting on ALL swap positions. I support harsh penalties for bad actors. I'm against market abuse, market manipulation, and fraud. I'm ashamed of the congress members who support fraud in the name of "liquidity". Household Harry