Mar. 19, 2023
Dear SEC, I am writing to express my full support for the proposed rule changes that aim to reduce speed games, reduce inducements, and increase transparency in the markets. I believe that these changes are essential for restoring fairness, credibility, and integrity to the American markets. I would like to emphasize the following points: Every rule the SEC passes is only as good as the enforcement that backs it. I strongly believe that higher fines should be imposed to serve as a significant deterrent, and broker-dealers should lose their licenses instead of receiving fines that amount to nothing more than a cost of doing business. I deeply appreciate and support any efforts to reduce speed games and inducements that damage the integrity and functioning of American markets. I believe that fragmentation of the markets only benefits large, dominant players and that a more simple, transparent, and free market structure is preferable. I fully support and appreciate the proposed rule changes that bring more transparency to dark markets, and I agree that fair competition is incredibly important in the markets. Monopolies are bad, and there is clear monopolistic behavior in some market participants, which needs to change. I believe that wholesalers exercise extreme influence on other market participants and that their conflicts of interest should be addressed. I would gladly pay more per share or commission to avoid being routed through a wholesaler, especially one with a long record of flouting the law like Citadel Securities. The data clearly demonstrate that wholesalers are taking billions from individuals and institutions and calling it "superior performance," which is unacceptable. Removing the profiteering middlemen from the market will improve prices for both individuals and institutions. In conclusion, I urge the SEC to implement the proposed rule changes as soon as possible. I appreciate the SEC's efforts to take their mandate more seriously and ensure fair competition in the markets. Thank you for your time and consideration.