Aug. 13, 2023
August 13, 2023 Securities and Exchange Commission 100 F Street NE Washington, D.C. 20549 Subject: Comment in Support of Proposed Rule S7-32-10 Dear SEC Secretary Countryman, I am writing this comment letter to express my strong support for the proposed rule S7-32-10, which aims to enhance cybersecurity measures and improve swaps reporting in the financial industry. As a concerned citizen and advocate for a secure financial system, I believe this rule is a crucial step forward in safeguarding sensitive financial data and maintaining market integrity. By implementing stricter cybersecurity measures, the SEC demonstrates its unwavering commitment to protecting the financial industry from cyber threats. Given the ever-evolving landscape of cybersecurity risks, this rule is a proactive approach to ensuring that financial institutions are equipped with adequate measures to prevent devastating cyber-attacks. Preserving investor confidence and sustaining the stability of our financial markets depend on robust cybersecurity regulations, which the S7-32-10 rule seeks to establish. Furthermore, the emphasis on improving swaps reporting is of paramount importance. Accurate and transparent reporting of swaps transactions would allow for regulatory oversight, risk management, and fair market practices. Reliable data is the bedrock on which informed decision-making rests, and this rule ensures that market participants, investors, and regulators have access to reliable information. By implementing stricter reporting standards, the SEC strengthens the integrity of the swaps market and promotes fair and efficient markets overall. I applaud the SEC for proactively addressing these critical issues and spearheading initiatives that prioritize transparency. The proposed rule aligns the financial industry with the evolving digital landscape and sets a strong precedent for other sectors to follow suit. I urge the SEC to pass the S7-32-10 rule mainly to improve swaps reporting for the benefit of our financial system and society as a whole. Thank you for considering my comment and for your dedication to upholding the fiduciary duty of the SEC to protect household investors and attempting to establish some market integrity. I trust that you will give thorough consideration to the all the comments received in support of the proposed rule and make decisions that further reinforce the stability and security of our financial system for the household investor. Sincerely, James D Ferguson