Mar. 12, 2023
Hello! I fully support this rule and would like to add a few points as to why I do: Wholesalers are historically predatory and research heavily suggests that internalization is bad for markets https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4070056. I would gladly pay commission to avoid being routed through a wholesaler. Competition is good! There are clearly some market participants benefitting from a dominant, anti-competitive position in the marketplace. They pay for order flow or secure it through backroom deals. Why can't orders compete in lit markets? They should - and it's good to see that the Commission finally realizes this. Every rule the SEC passes is only as good as the enforcement that backs it. I want to see higher fines that actually serve as a significant deterrent. The investing public should have easy access to what is happening within the markets. Thank you, Ausar Mundra