Mar. 15, 2023
March 15, 2023
Dear SEC,
I am a household investor having been invested in stocks since the 80s and have been outraged by the criminal activity, manipulation, and fraud that's been going on in our markets. We need to enact change NOW to put an end to this.
I strongly support the proposed rule by the SEC to prohibit conflicts of interest in certain securitizations. This rule is a necessary step in promoting transparency, fairness, and accountability in the securitization market, which will ultimately benefit investors and strengthen our financial system.
However, I must express my concern with the proposed exceptions for hedging, bona fide market making, and maintaining liquidity requirements. These exceptions provide loopholes for hedge funds and other market participants to abuse the system, potentially leading to conflicts of interest that harm investors.
It's outrageous, as hedge funds, in particular, have a history of exploiting these types of exceptions to engage in risky and unethical behavior. Providing these exceptions in the proposed rule would only encourage such behavior and undermine the very protections that the rule seeks to provide.
Therefore, I urge the SEC to reconsider these exceptions and ensure that the final rule provides a level playing field for all market participants, with no exceptions that could be exploited for personal gain.
Thank you for your time.
Sincerely,
Edward Jones Sr.