Mar. 4, 2024
Thank you for accepting this email. As I am what is now called a ‘retail investor’ I believe that transparency and fairness is required for everyone, at all levels of the investing paradigm regardless of capital invested or classification. The proposed rule change as stated in the subject line I feel is unfair to honest hard working people that invest their hard earned money in a market that favors larger investors and undermines those not internally connected to a system which at times seems very opaque. To even comment on this rule which is proposed with so many redactions already displays the lack of transparency needed for anyone to make informed decisions. During periods of high or low volatility, if any members whether clearing or market making should endure levels of stress, that should not be reason to change the rules to suit any malpractice or lack of due diligence on their part. With all the tools available to larger institutions they should never have put themselves into any position that may affect their margin requirements, especially when investing other people’s money whether it be pension or retirement funds. They should be regulated long before it ever gets to that point. Lowering margin requirements for fund managers and clearing houses can only encourage more risky behavior from these participants and further undermine confidence in the markets you’ve be appointed to regulate. Without a guided hand to ensure honest, fair, transparent and accountable market structure, how do investors invest in a market that allows risky behavior with no consequences. Thank you