Subject: File No. S7-32-10
From: John Philbrick
Affiliation: None

December 16, 2021

I believe action to maximize transparency in the market is absolutely necessary. The saying is that we have the privilege of a free market. However, without policies to expose illegal activity committed by those with significant market influence steals that privilege from both domestic and international investors. The states stock market was used like a casino in 2008, and its clear that those ultimately responsible for the recession that followed did not learn to respect the infrastructure they abused. These changes along with a desirable many more need to keep these abusive bodies beneath the law like everybody else and hold those that unlawfully jeopardize the countrys financial system responsible.