Comment Text:
I am a retail investor who is writing to plead with the CFTC to please update swap reporting requirements. It is unconscionable that the regulatory authority in charge of regulating swaps first delayed reporting of swaps for 2 years until 2023, then again until 2025. It has been made clear to the retail investor that hedge funds prefer to operate in the dark. Not requiring swap reporting allows financial entities to hide their true positions and avoid reporting requirements that would typically be required for large positions. The lack of these reporting requirements adds substantial risk to the entire financial industry, as the extent of many large firms' exposure is hidden. One need look no further than the Archegos collapse to understand the magnitude of positions that can be hidden in swaps.
Please, for the love of all that is right in this world, reinstate and strengthen swap reporting requirements. I understand i will never be on a level playing field with the large players, but the egregious lack of reporting requirements only serves to further this divide.
Thank you for your time.
