Subject: File No. S7-05-18
From: Anonymous Anonymous

June 22, 2018

BUYSIDE: We cannot trust our brokers, and we cannot be bothered to figure out how to evaluate them, or to change to brokers we can trust. Lets regulate the exchanges.

BROKERS: We cannot trust ourselves, we dont want to have to disclose institutional data through a revised 606 report, and if we changed our behavior it would affect our margins. Lets regulate the exchanges.

EXCHANGES: Are we the only ones who see how ridiculous this situation is?