February 7, 2022
To whom it may concern: Please implement S7-32-10 as written.
I am an American and was raised by the American Dream that working diligently and with integrity would lead to success. I witnessed first-hand, as did so many others, the market collapse in 2007-2008. To this day, I cannot understand how ALL of Dodd-Frank Act has not been implemented. This has instilled in me the notion that rules and regulations are either (a) insufficient, (b) not being enforced fairly, or (c) purposefully designed to allow the collapse of 07-08 to occur again, but at a larger scale.
Having heard Chairmen Gensler say that 90%-95% of all retail trades occur through Dark Pool and seen the stock price of certain meme stocks get tanked at the end of JAN 2021, and having watched them through the previous calendar year, I am of the opinion that there are bad actors who are acting with extreme greed and malfeasance preventing the market from functioning in a free and fair.
I am astonished that reporting is so delayed in 2022especially due to legacy systems and requirements that have bearing on the entirety of the world's financial markets. They are ripe for bad actors to take advantage of delays in reporting and the SEC needs to address these issues.
S7-32-10 appears to be a start towards addressing some of these issues with the timely filing of Schedule 10B a step in the right direction.
The SEC should not shy away from its mission of protecting the American investor and ensuring free, fair, and orderly markets. These proposed reporting requirements and prohibition of a range of misconduct and attempted misconduct in connection with security-based swaps are definitive steps towards affirming to the average American that the SEC is not asleep at the wheel and is on the side of free, fair, and orderly markets.