April 20, 2022
This proposal is complete garbage. It's yet another escape for short sellers looking to 'avoid' their obligations through 'novation'.
\"In a swap novation, the rights and obligations of the original bank counterparty are replaced by a different bank counterparty and a new transaction is created with identical terms to the old transaction, except where agreed upon between the parties and evidenced by a novation confirmation.\"
Are you serious? Thank goodness the public has an eye on this crap. I can't believe this is even being considered.
I reject this and am asking you to reject it.