Comment Text:
Public Comments on Swap Data Repositories: Interpretative Statement Regarding the Confidentiality and Indemnification Provisions of Section 21(d) of the Commodity Exchange Act:========
Title: Swap Data Repositories: Interpretative Statement Regarding the Confidentiality and Indemnification Provisions of Section 21(d) of the Commodity Exchange Act
FR Document Number: 2012-10918
Legacy Document ID:
RIN: 3038-AD83
Publish Date: 5/7/2012 12:00:00 AM
Submitter Info:
First Name: Rochelle
Last Name: Cleaver
Comment: The Volcker Rule and the Dodd-Frank Act have to be tightened up, especially about the loophole in "portfolio hedging" or we will have more of the $2 billion JPMorgan Chase losses. Please pay more attention to what the SEC, Commodity Futures Trading Commission, and FDIC say. The Treasury Department, Federal Reserve, and Comptroller of the Currency have political agendas and not market stability in mind.
A new 75 page study by Woodbine Associates says stock broker rebates cost investors as much as $5 billion a year in mutual funds, pension funds, and other investments, because of orders being sent to exchanges that were not offering the best final prices. Bad routing decisions offered high rebates to stockbrokers. The SEC raised questions about this practice in a policy paper in 2010, but nothing has been done about it yet.
The Volcker Rule and the Dodd-Frank Act have to be tightened up, especially about the loophole in "portfolio hedging" or we will have more of the $2 billion JPMorgan Chase losses. Please pay more attention to what the SEC, Commodity Futures Trading Commission, and FDIC say. The Treasury Department, Federal Reserve, and Comptroller of the Currency have political agendas and not market stability in mind.
A new 75 page study by Woodbine Associates says stock broker rebates cost investors as much as $5 billion a year in mutual funds, pension funds, and other investments, because of orders being sent to exchanges that were not offering the best final prices. Bad routing decisions offered high rebates to stockbrokers. The SEC raised questions about this practice in a policy paper in 2010, but nothing has been done about it yet.
