Mar. 13, 2023
To the SEC, I am Household Investor, and I am writing to support the proposed Order Competition Rule, File No. S7-31-22, Release No.34-96495. I support the rule, and encourage its implementation as soon as possible, with one exception: As I understand it, the rule allows for orders to go to Citadel FIRST and then to the auction for fair competition. This still gives them a major information advantage which should be removed. The markets need a completely level playing field. Brokers should be first routing to the auction - and only then - if someone doesn't take your order, routing to Citadel. I would like to compliment and encourage the continuation of the reform efforts being undertaken by Chairman Gensler and the entire S.E.C. It is both refreshing, and encouraging. It is a huge first step in repairing the reputation of the S.E.C. and its relationship with the individual investors who have been abused by Wall Street for too long. PLEASE CONTINUE YOUR EFFORTS. 15 U.S.C. 78k-1 (“section 11A”) states that "It is in the public interest and appropriate for the protection of investors and the maintenance of fair and orderly markets to assure ... fair competition among brokers and dealers, among exchange markets, and between exchange markets and markets other than exchange markets." For too long the Commission has not been enforcing fair competition, especially within the off-exchange systems that currently dominate. It's so good to see this beginning to change. I hope in the very near future to see the following: 1. Larger, painful, meaningful fines that actually act as a deterrent for bad behaviors. 2. The revocation and suspension of licenses for repeat offenders. 3. Prompt referral of criminal offenses to the DOJ for prosecution. In my view, these corrective measures should always have been in force, and because they are not, is why we have the issues the market is facing today. The SEC is now righting these wrongs, and millions of Investors are hopeful it will continue. Thank You, A concerned retail investor