March 24, 2022
S7-01-22
March 24, 2022
My Dear SEC Secretary and Regulatory Branch,
Again, thank you for allowing retail investors and institutions alike to approach your considerate minds. Please excuse my personal lack of knowledge in this sector, and understand many retail investors are just learning that we have an avenue for communication to your Commission, and we may not all know the best communication methods or ins and outs of the topics we're approaching. Please give us grace as we step out to help create more fair, orderly and efficient markets. Some of our letters may be considered out of scope however please do try your best to understand the sentiment underneath. I understand your Mission Statement says to \"maintain\" markets as previously described, but many retail investors feel as if maintenance of the current market is no longer viable we call for reform. Thank you all for working diligently and purposefully.
I support any rule that is designed to truly increase transparency, including this one. I would like to see this rule put into effect as soon as possible, and fully support your passing of it.
If Managers are saying this reporting requirement change will be an undue reporting burden to compile, etc. let the raw data be released for all parties to be able to sift through and translate. Data doesnt lie. Self reporting, on the other hand, has an area to be misconstrued. HOwever, it does seem absurd that a multi million dollar company can penny pinch in order to stay behind closed doors to conduct their business.
Many of your alternative suggestions are clever and I hope surely, a final product of this rule can be found that makes Form PF data no longer stale, but to receive it to highlight certain events that may signal distress at qualifying hedge funds and private equity funds or market instability.
To quote Dave Lauer in a comment letter dating 10/2/2012, The SEC should work with existing surveillance operations at market centers to build a distributed market-wide surveillance system that operates both centrally at the SEC and has a software presence at each market center. The SEC can monitor individual strategies across market centers, and build robust software systems that can quickly recognize aberrant behavior and cut off the offenders. I personally intend to make my desire to see more money allotted to the SEC via my states representative for precious technology that can keep up with the ones youre trying to monitor and manage.
Respectfully,
A retail investor.
p.s. I apologize in the submission delay.