Subject: File No. S7-31-22; Release No. 34-96495: Order Competition Rule
From: Matthew Ralston
Affiliation:

Mar. 31, 2023

 


I am in full support of new rule. PFOF hampers competition and promotes conflicts of interest, making it too easy for moral hazard to take place. Payment for Order Flow has been effectively banned in the UK due to conflict-of-interest concerns – and this should be the case in US markets too.