Aug. 5, 2023
Dear Ms. Countryman, I appreciate the opportunity to leave a comment to this rulemaking proposal, S7-32-10. If the SEC further increases transparency requirements for serious and professional investors, those financial institutions will simply have to resort to different measures in order to make money consistently using the means provided by the DTCC, NSCC, CFTC, and other C's. One such measure could be to run the price of certain stonks, such as GameStop, for instance, up during trading hours to artificially increase the price for registrars such as Computershare and household investors using such registrars to direct register stonks in their own name, rather than in street name, and then run the price down again after the registrar has finished acquiring said stonks. Such price run-ups could for example occur between 10:41 am ET (that's 7:41 am PT) and 11:11am ET. Then, the SEC returns in 3 years, saying 'we have determined that there were in fact buys and sells during that time period,' because this is how long it takes the SEC to obtain data from and determine fraudulent market activity by 'Self-Regulating Organizations' (SROs). So, please reconsider being so strict with short hedge funds and market makers and other financial organizations that trade in swaps and swaps-related securities, as this might backfire severely and it might hamper any of the SEC's staff members to obtain a lucrative senior position on Wall Street later on. Sincerely, Kenneth D. Máyoman