Oct. 30, 2022
October 30, 2022 Hello SEC, Thank you for bringing forward a rule in the area of securities lending. Improvement in this area is of the utmost importance for the credibility of the markets. I fully support transaction-by-transaction reporting. We cannot allow market participants to hide within the aggregate. We need full transparency on securities lending. The requirement for 15-minute reporting cannot be overstated. The reduction in fraud via implementing this far out weighs the cost to the market participants. To be frank, the lack of transparency in securities lending only serves to help short sellers. These short sellers are not investors. Improving reporting in securities lending will help to protect investors. There is untold hazard in the markets due to long, untracked lending chains. Such chains are incredibly fragile and are very dangerous to the health of the economy. Poor reporting rigor is in large part responsible for these untracked lending chains. I trust the SEC will improve the health of the market and implement the rule without any dilution. The strictest possible rule should be finalized and implemented. Many thanks, Anon