February 6, 2022
It has become clear, among many other underhanded and obscenely malicious tactics used by large firms, that security based swaps have been and are routinely used to manipulate markets and the assets which they contain.
The law should not allow for unreported data in any instances where it places an imbalance into the market to which the laws pertain, nor should a rule which is designed to illuminate bad actors come under any resistance from those who are innocent.
The intent to avoid liability or persecution for previous, ongoing and future crimes from those entities which abuse SBS for personal and private gain at the detriment of the average investor and the global economy should be punishable by law to the heaviest extent. Substantial jail time and fines in excess of 200%+ (i.e the amount gained from manipulation of SBS plus 100% on top or more) should be mandatory. In addition to the rule to make the information public, the risk of trying to find work arounds as is often the case needs to be a large enough deterrent that the risk substantially outweighs any possible reward.
Please do not continue to fail the US markets, the trust in them is tenuous and on a knife edge as it is, it's time to put sensible restrictions in place that at least level the playing field and turn the worlds biggest and most corrupt casino into the leader of financial markets, as the NYSE and Nasdaq often claim to be.