May 16, 2024
To the SEC and whomever else it may concern. I agree with the SEC and their determination to disapprove this OCC proposal. I am a retail investor and seek more fair and transparent markets for all to participate in. The proposal put forth by the OCC is antithetical to this. It seeks to shield the OCC and clearing members from possible default and presents a conflict of interest between their own self interest and creating a fair market environment. Changing the rules so that market participants don't feel consequences from bad decisions only encourages more bad behavior. This reduces trust in and creates precarious situations that are detrimental to the long term health of the market. The methods of which are redacted and unviewable to the general public. No rule proposal should have hidden information like this, it provides asymmetrical information and implies that there is something that needs to be concealed. All proposals and data should have open information available to all so that the best decisions can be made. The SEC must reject this proposal. Best regards, Ben