Subject: File No. S7-32-10
From: Dennis Krug
Affiliation: CEO

February 7, 2022

Dear Madams and Sirs,

I think the markets cannot be transparent enough. The last few months have opened the eyes of many investors and destroyed all my confidence in the American stock market. This can only be saved if action is finally taken to punish the perpetrators and increase the penalties significantly. And that doesn't mean doubling or tripling. As it is now, the profits made through manipulation etc. are sometimes billions. The penalties should be as high.

I think it's good that measures are currently being taken here. But trust has to be earned first and until action is really taken and bad actors are held accountable, I remain suspicious.

Best regards,
D. K.