Aug. 13, 2023
To Whom it May Concern, I support the SEC proposal S7-32-10 on enforcing disclosure and reporting of security-based swaps. As history proves without doubt, lack of reporting requirements and relying on voluntary disclosure of complex security derivatives, can and has led to systematic abuse of financial markets. The potential for these positions to create nigh-on infinite risk, and destabilise the worldwide economic markets through manipulation, fraud & poor risk management (Credit Suisse Ag etc.), is only beginning to be understood. With proper reporting & disclosure, there is no check on fraud in this murky and poorly understood market. As seen in widespread credit rating downgrades (on debt) by numerous ratings agencies recently, trust is being lost in our financial markets. Transparency is the only way to fix this lack of trust. Yours Sincerely, Kenneth Johnston Household Investor