Mar. 1, 2024
Good morning to all members of the Security & Exchange Commission, Thank you for providing household investors the opportunity to also express thoughts regarding proposal SR-OCC-2024-001. This proposal seems inadequate to finalize or even approve just from the way it is written. Also, it seems to raise many red flags and multiple concerns for most everyday individual investors. The everyday individual investor seems to be getting more and more knowledgeable on the rules n regulations of the market, and unfortunately the growing sentiment from these understandings is the majority losing trust in the integrity of the markets. Approving this proposal will only add to the growing distrust and eventually will get to the point where majority of individual investors stop participating for future investing. Why are the specific details for the calculation not provided? Considering the FRM’s role in safeguarding both OCC’s interest and at-risk clearing members, where/how/what is the rationale behind just handing the OCC’s FRM Officer additional unchecked authority to make unilateral decisions when markets are in high stress? How does the OCC being able to adjust margins at will for only who they want when they want help the everyday individual investor? Why are any entities that routinely do not properly follow their own risk management guidelines in the market during periods of little/no stress now being afforded n benefitted with extra margin haircuts to help in times of need? These are just a few of the many concerns being repeatedly echoed through conversations amongst individual investors. With all the redactions and non shared specific calculation formula being shared I can only see this proposal weakening the everyday household investor’s trust about the integrity of our markets instead of helping that trust. Just my concerned household inventor’s opinion, thank you for all you do, and thank you for your time!