Feb. 11, 2024
Hi Sir, I oppose SR-Occ-2024-001- 34-99393 for the following reasons: The lack of transparency in our financial system as evidenced by this rule proposal. The details are significantly redacted which prevents public review making and it is impossible for the public to comment on the validity of this proposal, which should rejected on this basis. Additional the rule is unfair to the marketplace for all retail investors, who are forced to face the consequences of long-tail risks while the OCC repeatedly waives the margin calls for the Clearing members by repeatedly reducing their margins requirements. This rule also always clearing members to hide their losses and naked shorts. The market values and market manipulation are out of control due to the complete lack of transparency. Rule would exacerbate the fundamental problems with this controlled and manipulated market. In the long run, this rule would increase risk and a further huge unstable bubble that would shock the economy. A much better rule would be to require increased capital and reverses and stop naked shorting. It is the members' naked shorting and no insufficient capital reserve that is causing the problems. This would would just exacerbate the entire problem. Again, the current rules need to be enforced, which is not happening. Again, I strongly oppose the enactment of this rule. I am in strong opposition of making the market more unstable. Colleen Kirchoff