Mar. 13, 2023
Hello, I am writing to express my support for the proposed rule changes and to provide my feedback on some important issues related to the regulation of the markets. Firstly, I believe that every rule the SEC passes is only as good as the enforcement that backs it. I strongly urge the SEC to implement higher fines that actually serve as a significant deterrent. Additionally, I think that some broker-dealers should lose their licenses instead of receiving fines that amount to nothing more than a cost of doing business, which is often outweighed by the ill-gotten gains obtained through "honest mistakes." I fully support the proposed rule changes that aim to reduce the speed games that damage the integrity, credibility, and functioning of American markets. I also appreciate any efforts to reduce inducements and to reduce the "farming" of individuals' orders for rebate money. Furthermore, I believe that fair competition is incredibly important for the markets, and it is good to see the SEC taking its mandate seriously. I support the proposed rule changes that aim to reduce the monopolistic behavior that currently dominates the off-exchange systems. I strongly believe that wholesalers are bad for the markets, and I would gladly pay more per share to avoid being routed through a wholesaler that has been charged over 70 times by the United States government. The parties involved have very clear conflicts of interest, and I am concerned that influence will infect the ability of some participants to objectively review these rules. I dislike middlemen that simply exist to get their cut of a transaction that would otherwise occur. I would prefer that money go to pension funds instead of Wall Street billionaires. Therefore, I support the proposed rule changes that aim to remove profiteering middlemen from the market, which will improve prices for both individuals and institutions. In summary, I fully support the proposed rule changes and urge the SEC to take action on the issues outlined above to protect the integrity, credibility, and functioning of the American markets. Thank you for your attention to these important matters. Sincerely, Alex Scharfe