January 27, 2022
Other than investing in my 401K, IRA, and SEP accounts, prior to a year or two ago I had little experience in the US stock market. I was no different than the millions of other Americans that felt like maxing out my retirement vehicles was sufficient in preparing for my retirement.
Covid restrictions allowed me, and millions of other people worldwide, the opportunity to get much more educated on the inner workings of the stock market.
While I always expected there to be some level of unethical, immoral, and illegal participants within the market, I never in my life expected to find what has surfaced over the past couple of years.
It has become very apparent that retail traders worldwide have been at a distinct disadvantage, and completely taken advantage of in the US stock market. How many billions of dollars have these hedge funds and market makers stolen from retail over the years, while retail is expected to compete against computer algorithms costing hundreds or millions of dollars that almost ensure the HF and MM always come out on top? Its unethical, immoral, and just absolutely criminal
As a retail investor, I wholeheartedly support the passing and enforcement of this transparency rule that will help to make the stock market become a much more free and fair market for all traders. However, just passing this rule is only the first step in this process. The SEC must enforce this rule. The penalties for failing to abide by this transparency rule MUST be stern enough to actually deter those who might consider taking advantage of retail in this and other similar manners once again.
I thank you for your time in reading this email. I also thank you in passing this transparency ruling yesterday. It is a huge first step in leveling the playing field for retail. I must admit, if the transparency rule did not pass, I myself, along with millions of other investors worldwide, were prepared in withdrawing our money from the stock market. It is in no way appealing to me , and others, to keep our hard earned money in a market riddled with greed and corruption. Hopefully, with your help, that will soon change for the better. Again, I thank you for your time, and I trust that the SEC will do what is right and place this transparency rule in effect as soon as possible.