July 18, 2023
The SEC should approve this rule in an attempt to promote transparency in our markets. Institutions, hedge funds, broker-dealers, market makers use swaps and complicated derivatives to obfuscate reporting requirements.
I'm appalled to learn that many congressmen sent a joint letter opposed to this rule, dated July 12, 2023, seemingly concerned about the negative implications that such transparency could create. Negative for whom? The 1%?
It's unfortunate that the CFTC has delayed swap reporting until potentially 2025 and I would hope the SEC would take the ethical and moral high road on this proposed rule by not following suit.
Thank you.