May 9, 2024
Dear Gary Gensler and staff. I am writing to you with an urgent and vehement opposition to SR-OCC-2024-001. My concerns are not merely rooted in abstract conjecture but are deeply grounded in the fundamental principles of transparency, accountability, and the preservation of market integrity. The lack of transparency surrounding SR-OCC-2024-001 is not merely an inconvenience; it is an egregious affront to the very essence of democratic governance. As stakeholders in the financial markets, we are entitled to full disclosure and open dialogue regarding proposals that have the potential to disrupt the delicate balance of our economic ecosystem. The decision to redact information pertaining to SR-OCC-2024-001 only serves to exacerbate the already glaring deficiencies in transparency. Redaction is not a tool of responsible governance; it is a cloak of secrecy wielded by those who seek to evade scrutiny and accountability. Furthermore, the systemic risks posed by SR-OCC-2024-001 cannot be overstated. Any proposal that has the potential to impact the stability and integrity of our financial markets must undergo rigorous scrutiny and analysis. Yet, in the absence of complete information, such scrutiny is rendered impossible, leaving us vulnerable to the whims of uncertainty and volatility. The consequences of allowing SR-OCC-2024-001 to proceed unchecked are too grave to ignore. We cannot afford to gamble with the stability of our markets or the trust of investors. The time for obfuscation and opacity has passed; now is the time for transparency, accountability, and responsible stewardship. Therefore, I implore you, in the strongest possible terms, to halt the advancement of SR-OCC-2024-001 until such time as complete transparency and disclosure have been ensured. Our markets, our investors, and our democracy deserve nothing less. Thank you for your attention to this matter, though attention alone is insufficient. Action is imperative, and it is action that I demand. Sincerely, J. Frost