Jul. 25, 2023
Greetings, I strongly support this proposal and praise the effort in preventing evasion of the reporting rule. I strongly support transparency and the public disclosure of this data. I am concerned that excessively large swaps are a threat to financial and notional stability. Please, as the Fed has done with Archegos Capital Management, allow the public to have the data that can find other potential catastrophes, such as that of credit Suisse, from happening again. I support applying this rule internationally so funds and firms cannot use borders to evade the rules of the market. The Security-Based Swap Position includes all security-based swaps based on the same underlying security or reference entity, regardless of whether they are debt or equity-based, so that fuds and firms cannot evade reporting requirements by using different types of complex financial instruments. I agree with the definition of security-based swaps and it must be appropriately wide to minimize evasion. A more level playing field is absolutely in the public interest, and the damage that can be done via swap activity necessitates that investors be equipped to defend themselves and the markets they use. The SEC should finalize this rule RIGHT NOW. Kind Regards, D. C. Smith American Citizen / Household Investor