Oct. 15, 2022
October 15, 2022 Vanessa A. Countryman Secretary U.S. Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 205499–1090 rule-comments@sec.gov Dear Securities & Exchange Commission Secretary, My name is Jack Pieper. I am an individual investor who has an interest in seeing free and fair markets play out. I think that institutional bad actors use loopholes to create fraudulent shares via ETF creation. This is a problem that the SEC needs to address in order to protect the investments of every day Americans, and ensure that corporations continue to use the US financial system to provide equity funding. Without the SEC shoring up these reporting rules, bad actors sew distrust in our financial markets. I urge the SEC to pass this piece of regulation, as well as add a provision for more frequent reporting to the public so individuals can make more educated decisions regarding their investment. True market valuations play out when equality of information is reached, something that the SEC already does on a regular basis with firm’s quarterly filings. I would like the SEC to better enforce section 292X of the Dod-Frank-Act, which states that “It shall be unlawful for any person, directly or indirectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any facility of any national securities exchange, or for any member of a national securities exchange to effect, alone or with one or more other persons, a manipulative short sale of any security.” This act also gives the SEC authority to act on, and pass legislation to prevent this. A market without rules and infrastructure in place to prevent fraud is a national security issue. I’d hope that the SEC agrees with that statement and continues forward with legislation that prevents crime before it even occurs by closing loopholes. Thank you for your time, Jack Pieper