Subject: Administrative Proceeding File No. 3-20171
From: Connor Kaiser
Affiliation:

Jun. 05, 2021

All, 


The true fact of the matter is that 65 million is FAR TOO LOW of a penalty for this kind of malfeasance. If this isn't increased, I know in the future I will one day be able to rip off the american retail investor too and only get a slap on the wrist for it.  


This is less than 10% of their earnings from PFOF and I would like to see this remedied or I will have lost all faith in the US Markets.  



Best, 



Connor Kaiser