Aug. 12, 2023
Hello again. As an investor and a US citizen, I support this legislation. There needs to be more transparency on swap positions, as they open up investors to unperceived risks. The gain from these swaps is privatized, but everyone who interacts with the market faces the potential losses that come from these. The swaps are only able to be created because of the centralized system that bad actors use to their advantage to prey on the unsuspecting. It is critical that these financial instruments be reported to the public so that crime can be stopped before the losses become un-mitigatable. Big institutions shouldn't get to play with more information, or have the board tipped in their favor, but when there are no rules or accountability, they are allowed to. This is my second comment on this proposal because it is unfathomable that financial institutions get to advocate against greater transparency. You can see the pushback to these proposals, and to them I say Criminals don't get to create rules for themselves. The other reason I am commenting twice is incase the hedge funds use their inside people at the SEC to delete more comments. To all the good actors at the SEC: Please keep fighting the good fight against corruption. Literally millions of Americans are relying on you to protect them from these predators. Thank you for your time and consideration. Jack Pieper