June 25, 2023
A governing body such as the SEC, charged with keeping our markets functioning and fair must be able to see all swap positions that exist. This idea of big institutions hiding risk offshore using various types of swaps should be a thing of the past. Swaps have the potential to hide catastrophic deals from regulators which is unacceptable. When these deals sour we all are impacted. Too many times are these large institutions bailed out using tax payers money. Not only should swaps be completely transparent to regulators, those that fail to do so should be fined substantially.