<p><span>Thank you, Chair Gensler, and thank you to the staff for their presentation. The Commission adopted Regulation SCI in 2014 to address perceived technological vulnerabilities, improve Commission oversight, and mitigate the risk of technical “single points of failure” in the securities market.</span><a name="_ftnref1" href="https://www.sec.gov/news/statement/uyeda-statement-regulation-sci-031523?utm_medium=email&utm_source=govdelivery#_ftn1">[1]</a><span> Given its substantial burdens, Regulation SCI was narrowly applied to key participants, including the stock and options exchanges, registered and certain exempt clearing agencies, FINRA and the MSRB, alternative trading systems that trade stocks exceeding specified volume thresholds, and market data processors. Today, the Commission considers an expansion of Regulation SCI’s scope to include registered security-based swap data repositories (SBSDRs), registered broker-dealers exceeding certain asset or transaction activity thresholds, and additional exempt clearing agencies.</span></p>