To whom it may concern, Margin requirements are essential in protecting investors and the markets from taking on more risk than they can tolerate. This stands true from individual household investors up to hedge funds, brokerages, and other financial institutions. If financial firms are in a position where they are unable to meet margin requirements, perhaps instead of lowering those margin requirements, and thus increasing the risk of systemic failure, more stringent rules should be proposed to prevent that type of risk from accumulating in the first place. Allowing this type of risky financial behavior to continue is akin to saying that certain financial entities are above the "financial law". The market crash in 2008 was partly caused by overleveraged firms that ultimately could not meet their margin requirements. This proposal seems reminiscent of those times in 2008 and I would expect that if passed, it could lead to another situation like 2008 in the future. It is further concerning that an organization whose mission is to protect the integrity of the market would propose rules to allow for risk-taking entities to take further risks seemingly without care for how it may affect other market participants unfairly. In light of the events over the last few years, with multiple banks and other financial firms failing, as well as rising interest rates, I must object to this proposal being passed. This proposal would amplify the risk management issues that are affecting the market and I believe that it would not be in the best interest of the market as a whole to implement these changes. I encourage those reading to advocate for further oversight and more strict margin and reporting requirements for all Clearing Members. External Auditing should be a priority for all large financial entities, as self-reported and obscured data is not useful at best and harmful at worst. All market participants and regulatory agencies should have access to the most up-to-date sources of data that are accurate and not manipulated by self-reporting organizations. Thank you for your consideration, A Concerned Investor