Feb. 5, 2024
I want to start this email by expressing my gratitude for the chance to comment on the proposed rule change SR-OCC-2024-001 34-99393. I want to make it clear that I do not support a change in the margin requirements, to get across my point in the quickest way possible, actions should have consequences. These changes would protect clearing members by reducing margin requirements while putting the broader financial system at risk. Individuals that did nothing wrong are continuously paying for the mistakes of a few that have been functioning in self regulatory environments. Margin requirements should be enforced, this is the moment that the American people will either develop hope in regulators or lose hope in the entire financial system and write it off as absolutely corrupt. Too big to fail has been used as an excuse to allow financial institutions to do as they please, negating any regulation, I'm writing this to ask for a change starting with the SEC. Please introduce some external auditing and supervision as a line of defense, in order to enhance transparency and proactive risk management. We cannot continue to consolidate economic power in the hands of a few.