Comment Text:
To Whom it may Concern
What happened in September 2021 was an astounding backdown from the CFTC. You developed new reporting requirements to create more transparency, and integrity in Derivatives markets, and what happens, the CFTC caves in after immense pressure was applied by ISDA, and SIFMA lobbyists, and then all the industry players were given relief from reporting anything. It is so hypocritical that the CFTC put so much effort in creating these new rules, which were created to stop fraud in Derivatives markets and trades, and then just hide all of the potential corrupt activity by leading industry players .
What did the all the industry players have to hide that was so sensitive, to then seek relief from reporting ?
I urge the CFTC to suspend the relief given to all Derivatives and Swap market dealers and traders, in release 8422-21, and publish publicly all required data, to allow all investors to make more informed decisions on their investments.
It is extremely important to know why very large financial institutions have a need to swap their liabilities, especially to offshore entities in the current stressed market conditions.
It is important for the CFTC to know that you have a very poor public image, as your actions give reason to conclude that your regulatory organisation is complicit with industry in aiding and abetting financial corruption, It has to stop, and complete and transparent reporting is the only way to achieve that aim.
Sincerely
Brenton H Carling
