Feb. 8, 2024
Dear SEC, In light of this proposal I cannot possibly endorse or support such leniency, allowing automatic alterations of global settings during times of volatility simply allows overleveraged players to "weather the storm" and continue to add overall debt and failure to delivers in a cyclical toxic spiral. This was already granted during the 2021 "Meme Frenzy" in which each institutions aggregate requirements were adjusted from approximately $100 billion to $80 billion, allowing completely overleveraged positions a windfall to prolong irresponsible and extremely risky position closing. The very notion of the OCC disregarding their own discretion in these matters and allowing bad actors a guaranteed lenient waiver does nothing but temporarily suspend appropriate risk control and allows it to accumulate for a calamitous systemic risk in the future, yet another form of failure to delivers that bad actors will seek to abuse by preventing appropriate action from regulatory bodies. The OCC absolutely needs to remain proactive and protective of the financial markets in these matters, autonomy will not only lead to a fraudulent system but a lack of transparency and therefore trust. Kind Regards, A Concerned Investor.