Jul. 28, 2026
Dear Ms. Countryman, I strongly oppose the proposed rescission of Rule 611 (File No. S7-2026-20). Rule 611 ensures individual investors receive the best publicly available price. Removing it would allow retail investors to receive worse executions while increasing profits for wholesalers. Even the Commission acknowledges this proposal could transfer wealth from individual investors to Wall Street firms. I no longer believe U.S. markets are fair when investor protections are repeatedly weakened in favor of large financial institutions. If this pattern of insatiable corporate greed continues, the working class will continue losing wealth while powerful firms capture an ever-greater share of it. That is not a free or fair market—it is a system that increasingly ensures ordinary Americans own less and less. I urge the Commission to reject this proposal and preserve Rule 611 or replace it with an equally strong, enforceable protection for retail investors. Sincerely, Michael Sparks