Mar. 5, 2024
I would like to express concerns with Rule SR-OCC-2024-001, which proposes adjustments to margin thresholds during periods of high volatility. The use of "idiosyncratic volatility control settings" lacks transparency and may lead to arbitrary adjustments, potentially favoring certain market participants. The lack of transparency undermines trust and confidence in financial markets and regulatory frameworks. The redaction of supporting evidence regarding margin threshold calculation further erodes transparency and accountability. Granting unchecked authority to the Financial Risk Management Officer raises questions about conflicts of interest. I'm urging the Securities and Exchange Commission to thoroughly review and reconsider the implications of the rule, emphasizing the need for clear guidelines, transparency, and checks and balances to maintain market integrity and stability. Stop accepting just fines from the large players who would greatly benefit from the passage of this rule and start listening to those who slave away everyday just for America to be identified as a country.