Dec. 26, 2022
December 26, 2022
Hello SEC,
As a Retail Investor, I am writing to express my strong desire for significant reforms in the way financial markets operate. I am particularly concerned about the following issues:
The use of dark pools, which allow for secretive trading and lack of transparency.
Failure to deliver, which can lead to fraud and manipulation.
Payment for order flow, which can create conflicts of interest between brokers and their clients.
Naked shorting, which can allow traders to sell securities they do not actually own.
Infinite liquidity, which can create unrealistic market conditions and undermine the principles of supply and demand.
Small fines for large offenses, which do not provide adequate deterrence or accountability.
Delays in trade settlement, which can harm investors and undermine confidence in the markets.
The DTCC (Depository Trust Clearing Corporation) should be subjected to a comprehensive forensic audit on an annual basis.
The subversion of shareholder voting rights through the circulation of more shares than have been issued.
I also believe that prices should be determined by supply and demand, and that if a particular security is not available at a certain price, the price should rise until a seller is willing to sell. The fact that this does not seem to be happening regularly is both disturbing and potentially illegal.
It seems to me that our markets have become twisted and corrupted, resembling nothing more than a large-scale Ponzi scheme. Regulators are not effectively enforcing the rules, market makers are using their insider knowledge to bet against retail investors and manipulate the market, and politicians with influence are being swayed by dirty money and insider trading.
I am aware that this is a complex and multifaceted issue, but I believe that something must be done to restore confidence in the market and protect the interests of retail investors. The use of legal language and evasive tactics will no longer be effective in disguising the problems that we are facing. The market is in crisis and it is essential that we take meaningful action to address these issues.
Thank you for considering my views.