Jan. 30, 2024
Dear SEC, I’ve read through the OCC proposal for reducing Margin Requirements for Clearing Members, and I would urge you not to approve this as it would encourage bad actors to continue to engage in risky investment behaviors. Just as single investors are responsible for having proper capital for their investments to clear, so should OCC members. Margin is an important, and delicate part of the financial ecosystem, and left unregulated and unenforced could be wildly dangerous for the economy. Reducing margin requirements only allows bad actors to kick the can further down the road, and incentivizes them to continue risky, over leveraged behavior. I think it’s crucial that the SEC takes this seriously, and does not allow this rule change, otherwise it would certainly reduce my confidence, as well as many other investors confidence in a fair market. Sincerely, Preston Maestri Phone: (818)-425-5569 Email: PrestonMPetnunas@Gmail.com