Oct. 18, 2022
October 18, 2022 I support transaction by transaction reporting because it stops bad actors from being able to hide what they are doing from others. Keeping things opaque will just continue to allow those bad actors to do what they do with impunity. Regular trading would be open for all to see. Some fear this will take away their ability to make as much profit, but there is no actual rule that gives them that right in perpetuity. It was a gray area from the beginning. The profit of a few firms is not worth the integrity of the system. Any incurred cost is tiny and inconsequential for most firms as they have more than enough ability to absorb any added cost of doing business. One of the largest worries of the current system is the danger of long and untracked lending chains that don't show up in the current system. These chains can and do harm the stability of the system as a whole. The events of January 2021 showed the potential weakness of the system as it is today with what can happen wit h inappropriate use of short selling and reckless securities lending. As well for individual investors, this creates a more fair system to help working families access and be a part of the system. They will know the risks and have more ready information to make the proper financial decisions instead of having to guess what is going on in the opaque system we have today. Another perk with more transparency is that retail investors will in the process of researching, be another set of eyes on making sure larger players are playing fair and can quickly report any infractions to the SEC. This untapped force of good would be an \"investor army\" to keep financial corporate America more honest.