Comment Text:
Submitter Info:
First Name: Michael
Last Name: Haines
Mailing Address: null
City: san rafael
Country: United States
State or Province: CA
Postal Code: 94901
Dear Chairman Gensler:
Re: End-User Exception to Mandatory Clearing of Swaps (RIN 3038-AD10)
Please do not allow changes in the transparency requirements of Dodd-Frank that would throw important trades back into the shadows. Some are are calling for exemptions for a very broad array of companies from the clearing and margin requirements of the act.
We must not broaden this narrow, commonsense exception to include financial and commercial institutions that want to gamble in the derivatives markets. Doing so would allow systemically important companies to enter into risky trades in a market with zero transparency and accountability.
Thank you.
