February 7, 2022
This proposal is a step in the right direction. If we've learned anything Banks as well as Hedge funds will exploit markets to realize individual benefits and shared losses when they excessively make risky bets. The lack of transparency in security based swaps creates an inability to remediate excessive market risks before they can pose larger market volitivity problems. Large banks, brokers and hedge funds would rather the SEC not be able to see or react to their risky bets that gamble the broader market's stability on riskier and riskier behavior. Although I do not believe this proposal goes far enough to enforce more honest and prudent risk mitigation, it is absolutely a step in the right direction. The faith in the American securities market is at risk as it is. If steps like greater transparency and risk mitigation are not taken seriously we could see further faith lost in the integrity of the US markets.