Aug. 16, 2023
To the Securities and Exchange Commission (SEC): I am writing as a household investor to urge you to immediately implement and enforce proposed rule S7-32-10. I believe that the reporting threshold should be any swap position, regardless of the amount in question. Observations conclude that the existence of swaps leads to an increase in significant risk in our financial markets such as the Archegos Total Return Swaps incident, and the lack of oversight on Wall Street has only exacerbated this risk. The Commodity Futures Trading Commission (CFTC) has been criticized for its lack of transparency and accountability. This has led to a strong distrust between household investors and the CFTC. I believe that the SEC can help to address this distrust by implementing stricter reporting requirements for swaps that negate the ridiculous actions of the CFTC. In addition, it is suggested that information regarding swaps is reported in a more accessible format to the public for those who may come across interpreting this data as a boundary to participating or gaining information about the markets. The information should be free, timely, and formatted in a way that is easy to understand for those without a strong financial background. This will allow all market participants, including those who either don't have the time or the data analytic skills, to make informed decisions about their investments. I believe that proposed rule S7-32-10 is a step in the right direction. It would help to increase transparency and accountability in the swaps market, which would benefit almost all market participants. Again, I urge the immediate implementation and enforcement of this proposed rule as soon as possible. Thank you for your time and consideration. Sincerely, QD___