February 7, 2022
The security based swap market makes up an enormous amount of monetary transactions within our country and the consequences of this market can be felt worldwide, as evidenced by the role credit default swaps played in the 2008 housing market collapse. Ensuring this remains a properly regulated system is a matter of utmost importance. This can only be achieved by maintaining independence of a chief compliance officer. It should be illegal for individuals to manipulate this market. Positions in security-based swaps should be disclosed. Transparency is needed for individuals to make informed investment decisions. Without transparency, the market will be inherently unequal, favoring those who have access to information that others do not have. The United States prides itself on being a free and fair market system and these proposed rules are a step in the right direction.