Mar. 31, 2023
Good day, Many retail investors are very concerned. Any rule the SEC passes is only as good as it’s enforcement. There needs to be higher fines that actually serve as a significant deterrent. 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”. The current rule forces dark pools to provide quotes and trades to consolidated market data IF they wish to operate as an auction. I fully support and appreciate rule changes like this that bring more transparency to dark markets. The investing public should have easy access to what is happening within the markets. Fragmentation of the markets makes things overcomplicated in a way that only benefits large, dominant players. I prefer a more simple, transparent, and free market structure like the one proposed. The parties involved have very clear conflicts of interest. Citadel is a large source of funding for many broker-dealers and is, for example, the NYSE's biggest customer. Wholesalers exercise extreme influence on other market participants and I am concerned that influence will infect the ability of some participants to objectively review these rules. I dont like middlemen that exist to get their cut of a transaction that would otherwise occur. Please help the masses, and not the billionaires. -Chris Capitani -- Christopher Capitani