Aug. 10, 2023
Salutations, I support the proposed rule. I am disheartened by comments provided from impacted industry participants about how the proposed rule will impair fair, orderly, and efficient market activities to include capital formation by making these participants disclose their positions/activity. My understanding of the proposed rule will provide better stability to the markets at large while making it fairer/equitable for all participants. Comments received from organizations such as Managed Funds Association are an ill attempt to obfuscate their activities that intensely impact the health of businesses, nations, and the U.S. in general. These types of organizations/participants hide behind terms such as "proprietary" and "trading strategies", when the reality is they prefer not to illustrate how over-leveraged their "bets" are and the impacts that it could have for their companies. The most immediate example of this is the collapse of Archegos with the subsequent forced acquisition of Credit Suisse. The fallout of the Archegos debacle will have impacts to the overall market and financial industry for more than a decade as lawsuits are litigated while the full extent of what occurred is discovered. Approving this proposed rule is a step closer to the transparency necessary to not only protect the all participants, but capitalism as a whole. I appreciate your time. Thank you, Ben Carbajal