Mar. 30, 2023
Good day SEC, Every rule the SEC passes is only as good as the enforcement that backs it. I want to see higher fines that actually serve as a significant deterrent. I think some broker-dealers should lose their licenses instead of receiving fines that amount to nothing more than a cost of doing business - a cost that is often outweighed by the ill-gotten gains obtained through “honest mistakes”. I fully support the rule, please implement it as soon as possible, this will show US Citizens and the world that we do have a free and fair market. When I started trading in the markets around 2021 I was excited and tried to get my 13 year old daughter at the time to invest some of her savings in a company she enjoyed playing on there platform RBX, thank god she did not and she did not want to educate herself on the markets. Fast forward to the next school year she is now in the 9th grade and by the grace of god one of her classes is teaching about the stock market. I was super excited because I couldn’t understand why this wasn’t being taught to ALL kids in Every school lord knows I would have loved to have had the opportunity in High school and I thought I would be able to learn from her as well. After a few weeks I asked how it is going and she said the stock market is Gambling and after the few years I have been personally trading I couldn’t agree more with that sentiment. If a 14 year old can easily see the stock market is gambling after learning and participating in it for only a few weeks that’s says a lot! However, what she can’t see is that the stock market game seems to be fixed and if she is not in the know with the right people, as I have assumed over the 10 years I worked in the financial district as a mortgage loan officer and was too scared to put money into it because of that fear of not knowing, then you will lose every time as a individual Retail Investor. Please tell me how to explain that to a 14 year old? This is not the American way, this rule is a must have in order to bring faith and belief in the markets that they are free and fair not only for this current generation but for many many more to come like my daughter. If not, I feel my daughter will be in a society of extreme haves and extreme have nots! Blessings, Daryl N. Sent from my iPhone