Jun. 8, 2022
Dear Mr Gensler/Head Of Sec Petition 4-785 Rulemaking petition to invoke SEC Rule 304 (a)(4) Release NO: 34-83663 With reference to the above petition that I signed, I would like to see this rule 304 (a)(4) put into place. I am an investor of AMC & GME, together with many other stocks across the board, that seem to have a high proportion of Buy orders going to unregulated high frequency ATS dark pool systems and therefore bypassing the actual stock exchange. As stated by Gary Gensler himself, 90-95% of trades do not go to the LIT Exchange. This is scandalous and there are many companies across the board that this is happening to and are suffering as a result. This is not good for companies that have come to the stock market seeking both support and growth and is not good for investors who believe in the company and invest for their retirement. Over the last couple of years, or should I say decades, it has come to light that nefarious things within the stock market are taking place by using unregulated ATS high frequency trading systems. China banned them for a reason and as head of the SEC it is your job to protect retail investors as well as companies that come to the stock market for growth. With 90-95% of orders not going to the LIT Exchange, it completely takes away the thesis of supply V demand. I hope this will not be overlooked and that you will take action, not to just these two companies but to all companies that are suffering as a result of these high frequency ATS systems. Thank you Sandra Gent