Subject: Administrative Proceeding File No. 3-20171
From: Richard Davis
Affiliation:

Jun. 06, 2021

Hi, 


The proposed amount is not proportional to the impact of such an event in terms of confidence in brokers, and the SEC's ability to regulate them. 



As a foreign investor, I see this as impacting ALL USA stocks, not just any impacted directly by the RobinHood trading incident. 


Kind regards, 


Richard