Oct. 30, 2022
October 30, 2022 I am deeply concerned for the future of our financial markets given the obfuscation of large positions, hidden from public view via swaps. It has become increasingly clear after the Archegos situation and the current tumoil that Credit Suisse seems to be undergoing that hiding leveraged positions from the public by utilizing swaps poses a major danger to the general public. As a lifelong investor and market participant, I am frustrated that information about large positions taken (with or without leverage) on the securities I choose to invest in cannot be publicly viewed. In my opinion this obfuscation puts me as an individual investor at risk, because if I choose to invest in a security without knowledge of the current positioning from large firms that are at risk of liquidation, I may be subject to significant losses when their position is liquidated - a position I may not even know exists. This prevents true price discovery and I am asking the SEC to side with individual investor s by simply providing us the visibility into these positions so we can make informed decisions.