June 27, 2023
As an average citizen, I am subject to following the rules set forth by the SEC, so that as as investor, I am transparent in what gains and or losses I might incur. I am also subject to reporting to the IRS of those gains and or losses. I am also required to pay federal taxes on such gains.
The proposed rule to extend reporting of security based swap positions at higher thresholds is a positive rule, in that it allows for full transparency.
We have all seen the devastating damage to our banking institutions, and our very confidence in the rule of law, after overzealous banks, financial managers, and hedge fund managers acted solely on behalf of their net worth balance sheets, not their obligation to maintain stability for their clients, and the banking institutions.
America's full faith and credit rating is reliant upon transparency, honesty, and accountability. All of it's citizens are subject to the same.
Even the former president.
Thank you for allowing me to voice my comment.