Oct. 30, 2022
October 30, 2022 I think it's important that swap data be reported regularly and accurately. I am in favor of any regulations or proposed rules which promote equality, equity, and transparency in our markets and provide individual investors with accurate information (ideally free of charge). Purposefully evading reporting data should be treated as the serious offense which it is. It is important for the SEC to have an in-depth understanding of the risks being taken on by funds groups, especially with malicious intent (shorting companies into bankruptcy, to profit off their failure and the asset sales). It is erroneous that the CFTC is hiding swap data and reporting has been suspended for over two years, possibly pending a further extension. I support transaction-by-transaction reporting and their costs are justified in order to prevent fraud and hiding positions. Working families and everyday people have always been the victims of financial predators. Those who predate on everyday individuals should be held responsible, and their ability to pray on investors brought to an end. Victimized companies need a greater ability to defend themselves against predators. Short selling in the dark market harms true markets and price discovery. Infinite liquidity destroys supply and demand. What are these funds providing? In what ways do the benefit society? In providing the public with access to true and accurate short selling and swap data, not only does the SEC then have access to accurate reporting of positions, but the public can also parse thru that data, providing better coverage for monitoring fraud illegal short selling activity. Throughout history, risk taken on by investment hedge funds have at some point or another gone wrong. Perhaps holding them accountable and requiring accurate reporting of positions can help mitigate long term market volatility. I appreciate the SEC's effort in enforcing reporting rules and think it's an excellent step towards better markets.