Mar. 19, 2023
Im in support of the new rule that would prevent Citadel from being the first to receive orders. I’m in support of orders going to public auction so that everyone has the ability to purchase, allowing best price for all involved, including pension funds. There should be an equal opportunity for buyers so the best price is achieved, allowing a freer fairer market. PFOF should be completely banned to allow a more transparent market. It’s absolutely ridiculous how manipulation the US market is manipulated and the lack of companies following rules, or just slapped in the wrist with fines. Investing Companies are using PFOF to get large profits from firms, yet advertising they are using it to get a better price from all, while not truly being competitive to allow best price for retail investors. The purposed rule to bring more transparency to dark pools should be implemented immediately, and The Commission should ensure fairer rules, investigate and bring about accountability to monopolistic behavior by removing profiting middlemen from the market. The SEC needs to enforce the rules and stop slapping multi million and billion dollar companies with small fines with zero to little accountability. This “free and fair“ market is frustrating and exhausting to the retail investor. If I behaved illegal I would go to prison, and the consequences would be life changing. Some brokers need life changing consequences, like losing their license for continued rule violations.