Subject: S7-01-23
Form Type D

Hello 

I am commenting on my concerns about file S7-01-23. 

I am against exceptions/exemptions for "risk-mitigating hedging activities, bona fide market making, & certain liquidity  commitments." 

The proposed rule suggests less transparency, and regulation. History will show that this will always result in misconduct, unaccountability and corruption. 

The SEC states that its mission is to protect investors and provide fair markets. 

I believe all participants in the market- retail, institutional, investment advisors, market makers etc., should have access to the same  amount of information, and subject to the same rules, and regulations, NO EXCEPTIONS/EXEMPTIONS. 

I also wanted to bring attention to "naked short selling, phantom shares, synthetic shares, fail to deliver," and any other name to describe the same systemic abuse and criminal activity against US Citizens and   businesses. Naked short selling combined with unlimited FTDs due to loopholes, exemptions/exceptions, is destroying and bankrupting America and the abusers are stealing from every American. 

Consider implementing towards FTDs and settlement: 

-Fines equal to or greater than the monetary amount of the settlement/trade violation. 

-Margin calls for FTDs with no exceptions/exemptions, waivers. 

-Mandatory Buy-in with increased offers until closed. 

-Suspend & close accounts of brokers who FTD >3x/month: Sec&Exch Act 1934, §17A.a.5.(C) 

Thank you for your time,