Subject: File No. S7-12-22
From: David E.
Affiliation: Retail investor

March 28, 2022

As a retail investor I am in support of these proposed changes. So-called liquidity providers should absolutely be required to register with the SEC and should be watched closely. Their unique market position and size makes their organizations prime candidates for abuse and exploitation of opaque markets, and I am glad to see the SEC taking steps in the correct direction to reign in the fraud.