Mar. 15, 2023
March 15, 2023
MANDATORY BUY INS ARE A MUST FOR FAIR AND EFFICIENT MARKETS
ACTUAL FINES EQUALLY OR GREATER THAN THE AMOUNT OF PROFITS MAD FROM COMMITTING THE CRIME
REVOKING OF LICENSES FOR HABITUAL FAILING TO DELIVER.
Large institutions clearly do not have the interest of the average household investor in mind. They have their own interests in mind and can justify their criminal acts by falsely claiming to be protecting us. With the reality being that their scheme of stealing through PFOF, dark pools, FTDs, swaps, derivatives, and other methods of never buying the underlying assets is quickly being exposed and becoming common knowledge to a largely growing number of household investors and the public at large.
Please protect the market. Protect household investors. Protect retirement funds and life long savings from these market makers and hedge funds who pillage the American economy. Use these rules, and the tools already available to you to better serve those who need protecting from these criminal acts of theft. A for-profit hedge fund with PFOF-deals with brokers that is also a market maker is a serious and blatantly obvious conflict of interest, this can not stand if you are ever to convince the household investors these are fair markets.
Please introduce the following rules as a bare minimum:
- Mandatory buy-ins for FTD (if buy-in fails, raise offer on open market via NBBO until it closes
- No WAIVERS. No waivers should be allowed as this is clear and blatant manipulation. The rules are there for everybody so ENFORCE them If an entity takes on too much risk, that's their problem.
- Hold offenders accountable and raise fines to a minimum of the profit they made + an additional 10% (no longer cost of doing business, but real fines that can be enforced)
- Actively keep a public and easily accessible register of SEC rule violators
- Actively suspend and even close accounts of brokers, hedge funds, etc... if they are repeatedly violating the SEC rules. If permanently closed, the brokers are forced to transfer the household investor accounts to an SEC temporary broker
- Market makers needs to be transparant and disclose any and all connections with hedge funds, brokers and other industry professionals.
- Market makers need to be under permanent supervision by the SEC and need to follow the SEC rulebook to the letter.
- No exceptions for market makers and or any other non-household party to provide liquidity or any other form of market manipulation that does not work via NBBO. Let the market sort itself out.
- Permanent bans for individuals that have violated the rules of the SEC to be part of any financial vehicle that trades on the market.
- Darkpools need to be banned as they do not serve their intended purpose of providing liquidity but are being used for borderline criminal manipulation of certain securities.
- Pre-market and after-market trading needs to be opened up for household investors and brokers need to be forced to provide this service by the SEC.
All-in-all. Make it a level-playing field for all as it was designed to be before only a handfull of manipulators got greedy. That is the job of the SEC and currently you are failing badly. DO BETTER.