February 18, 2022
Fraud, manipulation, and deception have no place in the markets, period. This proposal is beneficial that it targets a truly dark place in the market where swaps can be taken advantage of by individual and groups of bad acting market participants. Without enforcement or true penalties to bad actors, they can truly manipulate the market in an infinite amount of ways. Retail and other honest investors never have a chance to see true price discovery because the swaps are big money bets by bad actors. See the Gamestop saga and the meme stock swap baskets. The manipulation and deception runs deep with such swap manipulation and this is where enforcement is necessary. If the SEC is truly out to ensure the markets are fair and just, then this is the rule that should be passed immediately.