Aug. 10, 2022
August 10, 2022 To Whom it may concern, I am a retail investor who closely follows the US stock market and the proposed and implemented legal enhancements surrounding said market. I am a millennial, but I have been involved with stock trading for over a decade now. The more I grow to understand the inner workings of the US stock market, the more I also grow to distrust the market. I am quickly losing faith in the quality and security of the investments and trades that I make due to institutional influence over the laws, regulations, and the enforcement of these laws and regulations on large funds within the market. I have read over this proposal to enhance private fund reporting, and I wanted to state my support for this proposal. However, the opening line of this release has concerned me \"The Securities and Exchange Commission today voted to propose amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds.\" My concern is behind the wording of this statement, specifically the word \"certain\". Which funds fall into the \"certain\" category? Why would this rule not be implemented on all market participants? Even I, investing alone with only my direct labor income, would rather participate in filing this report if I could rest assured that all market entities and participants were also required to submit this report. The fact that other entities outside of the \"certain SEC-registered investment advisers to private funds\" may continue to evade this rule only further diminishes my trust in this exchange. This wording provides a loophole to those who are permitted to continue operating without SEC oversight. There are many disparaging practices in US markets, and I fear that my interests are second place to those of market makers. This rule has potential to provide transparency that could help prevent the blatant fraud and crime committed against small retail investors like myself. If a fund that doesn't fall in the realm of the so called \"certain\" funds encompassed by this rule, it may continue to implement fraudulent actions against investors. Actions such as naked short sales, which encourage the destruction of American companies and diminish the value of the US economic within the global market. If rules can exclude any participants, then the rule is structured to work against some, and to work for others. As a concerned investor, I implore you to take an honest stand on this issuance one that provides transparency to all market participants, or else I fear this simple word, \"certain\", will provide an open door for those participants that can operate without proper oversight. Thank you for your time and consideration. Sincerely, Andrew von Zellen