Comment Text:
Issues that affect integrity and competitiveness of U.S. markets are things like groups of bankers sitting on the very boards that oversee the bank's activities and the decision to delay (hide) swap reporting multiple times.
Another breakdown is that you have no incentive to accomplish the CFTC's mission:
"The mission of the Commodity Futures Trading Commission is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation."
Integrity is out the window, you delay (hide) swap reporting data to shroud your misdeeds and then we hear reports about multi trillion dollar "blind spots" opening up that I'm sure are not blind spots to all of you.
The foxes are in the hen house in case you didn't already know, but I think you did.
Transparency is what is needed. Regular and strict reporting requirements are needed and should NOT be avoidable or flexible. Casinos have more transparency than this industry.
We know most of you are criminals and you know it too. Financial crime is some of the worst due to the sheer magnitude and impact it has globally and the sooner we root out incestuous cesspool SROs and similar, the better.
