Subject: Comment for File Number S7-11-23 - Daily Computation of Customer and Broker-Dealer Reserve Requirements under the Broker-Dealer Customer Protection Rule
From: Adam Whitehurst
Affiliation:

Jul. 12, 2023

I support the change from weekly to daily calculation.

This is a necessary reform given technological advances and today's pace
of the market. It's quite worrisome that this isn't already a rule,
given that we have seen countless examples of a market shifting
seismically in a single day causing brokers to nearly default e.g.
Robinhood. I would not entertain any broker's complaints that this
change would be ineffective or burdensome to implement given the
entirety of their services should be automated by this point.