January 27, 2022
First off, it should not be the public's responsibility to convince the agency in charge of keeping a fair and free market that more transparency is needed in reporting by large hedge funds and financial market makers. All members within the SEC should already be aware of the ongoing corruption within the market that I'm sure gets reported weekly. So far this year under the SEC's whistleblower program, the agency has awarded $40 million dollars for help uncovering financial malfeasance in our market. That is all within the first three weeks of 2022. That goes along with over $1.1 billion awarded so far under the program since 2012. If that does not convince certain SEC Commissioners that there needs to be much more transparency in reporting, then the agency should be asking that member why they feel the current requirements are enough when corruption is continuing to be uncovered every week.
Secondly, social media users have uncovered a massive amount of ongoing corruption which has been made public and has yet to be proven wrong. All evidence shows that most of those illegal activities are hidden by taking advantage of the \"self-reporting\" rules the SEC has implemented. By requiring additional transparency in these reports, those illegal activities can not continue and the market will be fair for everyone.
And finally, any firm that holds a massive amount of 401k's, IRA's and other investments from the public but can also act as a market maker and control whether stock buys are routed through dark pools should be required to provide full transparency to ensure the legitimacy of each transaction. One firm should not hold that much power over stock buys sells in the first place but if they do, their moves should have a legitimate paper trail so investors can see how their money is being used.