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Comment for General CFTC Request for Comment on the Impact of Affiliations of Certain CFTC-Regulated Entities

  • From: Joseph B Wigon
    Organization(s):
    Self

    Comment No: 72987
    Date: 8/27/2023

    Comment Text:

    Dear Chairmen,

    This idea to allow vertical integration with knowing the past, going from the bank collusion crash in 1929 to today, is that these banks, institutions, SRO's or for that matter any self proclaimed non-goverment "agency" is a incredable risk to the entire financial world on a global scale due to the amount flowing through the United States.

    Allowing the same market participants fullfil multiple roles in a vertically integrated system would be a death sentence for the United States financial market with the amount of crime that has been exposed throughout history and being enabled by paid off regulators in charge of enacting rules against fraud on a global scale and corrupt piliticians that are, obsolutely insane, are inside trading in broad public view through stock purches, derivites trading or simply through family offices that don't have to report anything at all.

    These market participants that are pushing for vertical integration to hide more criminal actions and increase the scale of fraudulent market manipulation should be under heavy investigation as even you ring the bell on the FTX event that almost slipped through ALL regulatory oversight and is STILL happening on a global scale with intent to defraud all citizens of this planet, including entire goverments through criminal behavior in the stock, derivites, bond, future and FOREX trading.

    These market participants have already become too big to allow them to be able to try and reform the entire market through regulatory propositions in their favour without anyone being able to fight them as they literally control the world, and that is not an understatement and YOU know that.

    The CFTC should be looking and working with the SEC Chair on making markets more transparant, and unlike this rule for vertical integration, should be creating rules to break up these monopolized size institutions so that even more of their subsidiaries are regulated with less masking and hiding of criminal and fraudulent actions in the stock market.

    If anything, the CFTC should be creating more rules to overlap with SEC rules regarding transparancy in ALL swap markets, stocks, options, futures and especially FOREX in the case of the CFTC.

    Rules against SRO's themself should be created and enforced regarding their enabling of crime and fraud by mandatory rule changes regarding penalties proportially to the crimes commited and not slap on the wrist.

    The CFTC should also hold SRO's themself criminally liable when they allow fraud and/or criminal behavior by repeated offenders as any one in the world sees by FINRA's track of dealing penalties that are fractionals of the fraudulently gained profit at the expense of the global population.

    The CFTC along with the SEC would have a substential weight and power to also enforce all financial market rules on politicians, other regulators and even DOJ personal who refuse to enforce the laws set by goverment if they do not comply themselves.

    Please talk to your counter-party at the SEC and look at all the proposed rules AND institutional cries in the comments AGAINST market transparancy.

    Regards,
    Household investor

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