Aug. 10, 2022
August 10, 2022 OCC filing SR-OCC-2022-802 requests a rule change the OCC must follow regarding disclosures and funding of its liquidity facility. The requested changes are harmful to US markets, investors, and pension holders. Moreover, the proposal implies that the current rules and guidelines are incorrect and insufficient, because they are seeking to expand free reign to the OCC with fewer regulations. Clearly, there are underlying economic problems that the government is interested in wiping under the rug instead of addressing the root cause. The problems are not fundamentally solved with this proposal. Id argue theyre exacerbated. I am sharing my hope that we decline this proposal. The SEC has a moral obligation to deny SR-OCC-2022-802 in its entirety to protect the long term position of our markets and to retain public trust in our financial systems. Failure to do so will create a significant risk to the financial market and investment of the common people.