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Flexibility At The Expense Of Clarity: Statement On Adoption Of Exchange Act Rules 9j-1 And 15fh-4(c), SEC Commissioner Hester M. Peirce June 7, 2023

<p><span>Thank you, Mr. Chair. As we have just heard, today the Commission will vote on finalizing Rule 9j-1, which would prohibit fraud and manipulation involving purchases and sales of security-based swaps, and Rule 15fh-4(c), which would prohibit coercion, manipulation, or deception of a security-based swap entity&rsquo;s chief compliance officer. Although I agree with the objectives of these rules&mdash;namely, to reduce the incidence of misconduct in the security-based swap markets&mdash;these final rules leave unaddressed concerns I had at the proposing stage about their breadth, and I accordingly cannot support them.</span></p> ....

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