Aug. 19, 2023
To Whom it May Concern: I am one of many household ‘retail’ investors that participate in trades made on the NYSE and other markets that are under the regulation of the SEC. We are beholden to strict terms of investing (as we should be) to maintain order and integrity in the market. We mostly operate though brokerages who give us close to zero opportunity to violate laws and terms of service (as they should). Privileged financial institutions like market makers and hedge funds get to break the rules when they decide it is convenient, then pay a fine that is too often a tiny fraction of the ill-gained profits. Breaking the rules is part of their business model. This is grotesquely corrupt and unfair to those of us who play by the rules. I am not technically versed in the complexity of reporting laws but I understand this proposal to address issues and loopholes that should have been closed a long time ago. The threshold for swap reporting should be zero dollars, and given today's technology, should be reported by end of day. I currently wish to express my enthusiastic and complete support for proposed rule S7-32-10. I feel that this is much needed regulation to help ‘the little guy’ maintain footing and prevent exploitation by hedge funds and market makers. Americans are painfully aware of how the financial system is tilted in favor of the mega-wealthy, so I consider this proposal a small but important step towards transparency and fairness in our markets. We are aware of the problem and now is time to act on it. Thank you for your attention to this important matter