June 7, 2021
Good afternoon,
I am a former Robinhood customer and I am disappointed and disgusted to see the lack of enforcement the SEC has provided to the retail investors of this country. The SEC has failed to adequately 1) fine Robinhood an appropriate amount (The amount fined is FAR too low and MUST be increased) 2) hold those criminally responsible for crimes against citizens of this country 3) Lying under oath of congress 4) lying to their clients, customers, and profiting off of loopholes without knowledge or consent of their customers and 4) STILL manipulate, work with, and restrict retail investors from trading properly. Robinhood should be broken apart immediately. Hedge funds (Citadel, Melvin, etc.) and all those tied to Robinhood and their predatory synthetic share lending (Short selling) practices and PFOF practices must be held accountable. These groups are putting hard working Americans out of business, they are manipulating a global market and do not care what kind of destruction is left in their wake. This will eventually lead to the instability of our country economically if nothing is done.
It is your responsibility at the SEC to ENFORCE the regulations provided to you. Stand up for the retail investors and do your jobs, or get out of office so someone else can do it for you.
Please stand up for the retail investors, give the citizens of this country a segment of government to believe in. We have been struggling through a global pandemic, while the 1% have profited.