Mar. 12, 2023
The enforcement of SEC rules needs to be stronger with higher fines that are a true deterrent, and broker-dealers should lose their licenses instead of receiving fines that are insignificant compared to the benefits they get from fraudulent activities. The proposed rule changes will help reduce speed games and other unethical practices that damage the integrity, credibility, and functioning of the American markets. Fair competition is crucial to protect investors and ensure the maintenance of fair and orderly markets, and the SEC needs to take its mandate to ensure fair competition more seriously. Wholesalers exercise extreme influence on other market participants, have clear conflicts of interest, and should be removed from the market to improve prices for individuals and institutions. Research has shown that they are taking billions from citizens and pensions, and their claims of superior performance are misleading