February 20, 2022
As an individual investor, I agree with the SEC that now is the \"time to move forward with the antifraud and manipulation rules required by Section 9(j) as well the rules contemplated by Section 10B(d)\". Security based Swaps need antifraud provisions to ensure the marketplace is not being manipulated with bad actors.
Due to the severity and scope of fraud related to credit default swaps, I would state that there is no need to delay consideration for implementing the proposed changes in S7-32-10. The marketplace is suffering from opportunistic strategies and lack of reporting from entities in the CDS market. Fraud and market manipulation will continue with impunity until the rules in S7-32-10 are put in place and enforced.
As much as I would like to participate in the marketplace in the United States, I am sad to see the very real potential for my personal investments to be abused by bad actors in the CDS market. It is surprising for me, a U.S. citizen, to consider that my investments would be better protected in foreign markets. Please implement the policies set forth in S7-32-10 immediately.
Shelby Coffeecup, Administrative Assistant