Oct. 29, 2022
October 29, 2022 RE: File Number S7-32-10 10 December 2022 I would like to say that the SEC, specifically chairman Gary Gensler focus for the advocate of market fairness is commendable. I do appreciate the effort, but more needs to be done now more so than ever. The proposed rule to prevent evasion of the reporting requirement is a step in the right direction. I support for transparency and the public disclosure of these data. What's shocking is the fact chairman Rostin Behnam of the CFTC exempted international swap reporting until 2023, and now plans to continue with the exemption until 2025. I understand that these are two completely separate agencies that has nothing to do with one another, but for God sake, there is a reason why people believe that all regulator agency need to be rebuilt from the ground up. I am concerned of the excessive large swaps that are a threat to our financial systems. I know for a fact that Archegos had a position so large that it could not be dispersed. It was in the Credit Suisse report of the incident that we learn of this gigantic position, which I assume only increased. Credit Suisse was the clearing house for Archegos, I assume that this position was partly the reason for Credit Suisse financial ruin. I agree and advocate for the threshold to be lowered to 100 million / 200 million gross. We need to be able to detect more of the large swaps being spreaded to evade the threshold. I agree and support for applying this internationally. I agree and support the definition of security-based swaps. I agree and support with the daily reporting and the commission's public release of the data. Retail investors should be able to protect themselves from these risk from against hostile actors. The Dodd-Frank Act directed the SEC to seek transparency for brokers, dealers, and investors. I can say with certainty that investors have been receiving the short end of the stick for over 60 years, which is understatement as retail investors have been getting cheated, scammed, and beaten in every aspect of the financial system. If the SEC truly believes in market fairness they would enact this rule and strive to finally assist in real change for investors. Sincerely, Sam S.