Aug. 13, 2023
To whom it may concern: I strongly support the implementation of S7-32-10. The SEC states that its purpose is to maintain free and fair markets, however, with the current requirements for securities-based swaps reporting, the opposite is allowed to occur. Large institutions are allowed to hide positions that could potentially pose a systemic risk on the global financial markets - I believe we are on the precipice of one as I write this comment because these institutions have been allowed to operate in the dark. You need to look no further than what happened with Archegos Family Office and Credit Suisse. Implementing S7-32-10 would hold these institutions accountable for the risks they intend to take as they may be more risk-adverse if they have to operate in the light, rather than the shadows. Not only should S7-32-10 be implemented, but individuals/institutions should be strongly punished for not adhering to the rules once implemented. If punishment results in a fine that individuals/institutions can calculate into operating costs, then the market will be no better off than it is now, and we will be destined to continually repeat history by periodically experiencing "market disasters as these hidden positions become systemic risks. Punishment for positions that pose such risks should result in mandatory jail/prison and being barred from ever working in the financial sector again. I hope that you strongly consider implementing S7-32-10. Respectfully, Individual investor concerned for the future generations.