May 12, 2024
I fully support the sec’s decision to reject this proposed rule change. The OCC has gone above and beyond to not be transparent, and also with risk management, and protecting individual investors. The market should be fair for everyone, and systemic risks shouldn’t be pushed off by reducing margin requirements by parties who made irresponsible bets and refuse to settle them. If I, as a retail investor had a risky position, my position would be closed against my wishes immediately, and no special considerations should be given to larger parties for their own poor positions. The rules are the same for everyone, if you don’t have the collateral to maintain your positions, then they are closed for you. Period. The conflict of interest in the FRM officers role should be addressed as well. Self regulation by wall st has been proven over and over to be terrible, leading to crashes, fraud, and literal stealing of funds from everyday investors and pension plans. Enough is enough. If you have a bad position even with pfof, high frequency trading, and dark pools, so bad that you want to call it a “systematic risk,” well then maybe we should be talking about jail time for anyone involved in hiding these positions and taking them on. Wall st has gotten away with too much, for far too long, under the guise of “liquidity”, self regulation, and fee free trading, and it’s time that they play by the same rules they claim to be regulating. The world is watching, and the legitimacy of the stock market shouldn’t be ruined by those flirting with fraud. Thank you. Sent from my iPhone