Aug. 13, 2023
I fully support the SEC’s efforts to bring accountability to the USA financial markets. The large investment and banking firms have repeatedly placed America and its citizens at risk through their reckless financial gambles. I appreciate Chairman Gensler’s work in recent years to listen to household investors. I also want to express my strong support for the immediate implementation of Rule S7-32-10, which would require the public disclosure of all security-based swap (SBS) positions. I believe that this rule is essential to preventing future financial crises and ensuring a fair and transparent market. The Managed Fund Associations (MFA) alternative proposal is just another attempt to hide their dangerous fraud from the public markets. I believe that all SBS positions, regardless of size, should be reported publicly with no exceptions to this rule. This would give investors and regulators a much better understanding of the risks in the market and help to prevent the kind of market manipulation that led to the 2008 financial crisis. Finally, I believe that the penalties for violating this rule should be severe. I suggest that violators be forced to liquidate their positions, have their licenses revoked, and be barred from working in the financial industry for life. This would send a clear message that the SEC is serious about enforcing this rule and that it will not tolerate market manipulation. I urge the SEC to implement Rule S7-32-10 immediately and to make it as strong as possible. This rule is essential to protecting investors and ensuring a fair and transparent market. Thank you, A concerned American citizen