Mar. 12, 2023
It is time to end PFOF, or at least limit it. As a metaphor: I am surprised that a company like META can be crippled by the decision of a private company like Apple...by augmenting privacy on the iPhone. Their practices were predatory RE: user information - and that tiny change wrecked the META business model. This needs to happen with the PFOF monopoly that Citadel, et al. have on our retail orders. We aren't fodder for the macro markets...please, be the Apple this time. I see S7-31-22 as the tool that will curb the order internalization resulting from PFOF. I hate that MY order for a stock is part of an arbitrage process, and I don't understand how this isn't an obvious issue to regulators. It obviously prevents price discovery, as well as a host of other issues. Thank you, for finally putting up some regulation with teeth. I hope it passes very soon. If these markets continue without regulation, the millenial generation and beyond will eventually realize how broken the markets actually are. This will eventually lead to a loss in faith of the US markets - the envy of the world. We are the first generation to properly use the internet for information and crowd sourced activism. And I don't think people fully realize the power of this sole fact. It ALL starts with REGULATING the out-of-control capital markets. Capitalism needs to be put in check. Do not forget: Title 15 U.S.C. 78k-1 of the U.S. legal code Thanks for taking the time to read my thought and opinions on S7-31-22 Sincerely, -Austin L, from Southern Indiana.