Sep. 11, 2023
I am in support of the Commissions proposal to require certain broker-dealers to perform their customer and broker-dealer reserve computations and make any required deposits into their reserve bank accounts daily rather than weekly. Furthermore,I believe this proposed rule should be expanded to include all broker-dealers. If this proposed rule does not address all broker-dealers, what is to stop the certain broker-dealers this rule would current apply to from teaming up with broker-dealers not within the scope of this rule? This would seem like an exploitable loophole, to me, as many broker-dealers and market makers are complicit in the manipulation and algorithmic control of the markets. To that end, I would recommend to the Commission that all computations for all parties involved in capital markets me amended to daily, instead of weekly. The frequent flow of data will further aid the Commission in carrying out its mandates.