Subject: File No. S7-32-10
From: Robert Perkins
Affiliation: Cloud Architect

February 6, 2022

Im a retail investor and I find this particular ruling aligned with my expectations for regulations regarding Security Based Swaps. Most recently there has been a significant amount of evidence pointing to large positions being packaged into SBS to avoid reporting. Any holdings that could have a material impact on how investors select companies to invest in require high amounts of transparency such that all investing parties are on equal footing.