April 20, 2022
I don't believe these rules being proposed protect retail investors. The swaps market is already loosely regulated and in my opinion easily abused by large market participants to hide vital information and transactions occurring within the marketplace. Swaps can be used to hide short interest, hide long or short positions, obfuscate underlying securities variables such as delta and gamma, as well as many other issues.
Creating a self governing regime, allowing easier swaps trading across borders, exempting exchanges and registered brokers... all of these ideas sound like a terrible recipe for disaster in a multi-trillion dollar marketplace.
\"allow persons who are aggrieved by certain actions by an SBSEF to apply for review by the Commission\" this sounds like some kind of mandatory arbitration process, overseen by a self governing regulatory body. I do not believe any of these proposals will help retail investors. Please do not move forward with these new rules.