November 25, 2021
Comments for File Number S7-18-21:
This rule is integral in bringing the U.S. markets up to the bare minimum compliance. For decades, criminal financial institutions have been using opaque market infrastructure to steal Trillions of dollars from retail investors. These financial terrorist organizations, namely several short Hedge Funds, use such poor reporting mechanics to commit heinous financial crimes on a daily basis to the disadvantage of retail traders as well as the U.S. economy as a whole. It is time to reign in these treasonous acts and make the U.S. markets something that can be viewed as a trustworthy and reliable place to invest at present, it has been made VERY clear that this is not the case.
Retail Investors demand that the SEC start standing up for and enforcing the rules and regulations of the market. File Number S7-18-21 is a small step in the right direction.
On top of the passing of this rule, a strong rule infraction fee structure MUST be implemented to ensure that nefarious actors do not view compliance as a 'cost of doing business'. A strong proposal of +120% of ill-gotten gross revenue earned because of the infraction would help ensure that criminal financial organizations learn to abide by the rules. The fee MUST be over 100% of gross revenue for these rule infractions to stop. $Millions in fines for $Billions in earnings is an embarrassment to enforcement and down right shameful.
Hopefully the SEC can grow some teeth and start standing up for the free market instead of letting institutional financial criminals dictate how the markets operate. Hopefully this tiny step in the right direction can put the U.S. markets back on track to being the number one spot for retail investors, both foreign and domestic, to place their money.