February 7, 2022
\"Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps Prohibition against Undue Influence over Chief Compliance Officers Position Reporting of Large Security-Based Swap Positions\"
The title of this rule should be enough to not even require comment or approval. Currently the retail investor is at a significant disadvantage compared with funds due to the lack of transparency in the market. SBS is just one instrument which is being used to hide true positions, and allowing the manipulation to continue.
I 100% agree that more needs to be done to control the abuse of SBS, naked shorting, married options plays, spoofing, HFT and other mechanisms. Swaps have their place, but let's not forget that it was swaps that played a large part in the 2008 financial crash, and more recently the liquidation of Archegos capital. It's highly confusing that swap reporting was suspended until 2023, especially after the clear abusive naked shorting of the 'Meme stocks' like GME, AMC, BBBY, NOK and others.
Quite frankly, in order to (even temporarily) level the playing field, there needs to be a suspension of dark pool trading, a restriction on shorting, and aggressive work to uncover and prevent abusive naked shorting.