May 15, 2024
To whom it may concern. As an international retail investor who has invested in the US market , I appreciate the additional consideration and opportunity extended by SR-OCC-2024-001 Release No 34-100009 [1] to comment on SR-OCC-2024-001 34-99393 entitled “Proposed Rule Change by The Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility” aka a complet shit-show because financial institutions has made bad bets. I SUPPORT the SEC's grounds for disapproval under consideration as I have several concerns about the OCC rule proposal, and appreciate the opportunity to contribute to the rulemaking process to ensure all investors are protected in a fair, orderly, and efficient market especially the retail investors who has been shit on for centuries. Anyway this OCC rule proposal appears designed actually lat me rephrase its its clearly designed to protect Clearing Members from realizing the risk of potentially costly trades by rubber stamping reductions in margin requirements as required by Clearing Members. The OCC’s rule proposal attempts to avoid triggering a systemic financial crisis by reducing margin requirements using “idiosyncratic” and “global” terminology on a systemic risk they themself caused in their pursuit of greed and fraud. Therefore, the SEC is correct to have identified reasonable grounds for disapproval as this Proposed Rule Change is NOT consistent with at least Section 17A(b)(3)(F), Rule 17Ad-22(e)(2), and Rule 17Ad-22(e)(6) of the Exchange Act (15 U.S.C. 78s(b)(2)). Furthermore the SEC is 100% correct to reject this proposal on the grounds of sheer stupidity because giving financial institutions reduced margin requirement would be like giving Epstein a new island and the keys to a kindergarten. Thank you for the opportunity to comment for the protection of all investors as all investors benefit from a fair, transparent, and resilient market. Regards Benny Burmeister Jørgensen, Denmark