February 7, 2022
We need much better market transparency. Currently, we can't make anything close to an informed decision due to the obscurities built into the system. Dark pools, market manipulation, etc all prevent true price discovery on a security or investment. We need to level the playing field between the retail investor and the behemoths of the financial world - they have access to information that is completely invisible and unobtainable to the average investor.
Right now, it seems like confidence in the US markets is at an all-time low. People have begun to educate themselves en masse about how the system works - or rather, works against them. Add to that the fact that any enforcement of rules seems to be done completely at random when it comes to big banks, hedge funds, etc, and the fines are only a small percentage of the financial gains they've earned from shady or outright illegal practices. Its easy to see how the average new investor will have zero confidence in the market or the regulatory agencies.
The agencies that violate the rules set forth by the SEC and DOJ need to be identified quickly and punished more appropriately. The fines should be the profit they made off of the illegal transaction PLUS a fee (and potential prison time), to actually de-incentivize breaking the rules. As of right now, the fines are simply \"a cost of doing business\".
I think that this proposed rule is a step in the right direction. It will not solve all the issues stated above by itself, but at least it is progress. I support the proposed rule.
Thank you for your time.