Subject: File No. S7-01-22
From: John Nugent

February 22, 2022

I have a question regarding what constitutes a hardship to allow a \"temporary hardship exemption\" and how long a period of time is granted to the recipients of such exemptions? I feel as though this information needs to be clearly stated in order for the proposed rule to be effective.

Aside from that I think the proposed rule will aide in the transparency of the market and add to the overall health of the investment landscape.