Mar. 19, 2023
Good morning, It is becoming increasingly apparent that the U.S. market structure has been distorted by various financial institutions who have created a legislative structure that benefits them and them alone. Retail investors do not have marketplace transparency and financial institutions are not being held accountable to the extent that short-term profit schemes are placing the entire U.S. market at severe risk. I agree with Mr. Gensler's comments on this proposal that, “In the 22 years since Rule 605 was adopted, our equity markets have been transformed by ever-changing technologies and business models,” said SEC Chair Gary Gensler. “Current Rule 605 disclosures have not kept up with our markets and provide investors with an incomplete picture of execution quality. Thus, I am pleased that today’s proposal would modernize Rule 605 in a number of ways. This proposal, if adopted, would increase transparency for investors and facilitate their ability to compare brokers. That helps make our markets more efficient, competitive, and fair.” Thank you for your time, Frank Drummond