Feb. 4, 2024
To whom it concerns at the SEC: I am a concerned US citizen and household investor. I am writing to express my opposition to the proposed rule changes put forth by the OCC. It is my understanding that they are attempting to reduce margin requirements for members during periods of high volatility trading. This is such a bad idea and will put our already weak market structures at risk of contagion. Any proposed rule change for serious consideration should include more margin requirements as they are the first line of defense in protecting our markets. No market participant should be able to take positions for which they can’t cover. This is fundamental and anything that strays from this concept will weaken our markets. Any proposed rule change for serious consideration should include more transparency to all participants and regulators. This proposal is a step in the wrong direction for fair and resilient markets and does not reflect the will of household investors. It is your duty as regulators to oppose disastrous proposals like these and I and other household investors and citizens have faith and confidence that you will. Thank you for your time, Michael Griffin