February 7, 2022
I am a retail investor and I am very much in favor of this rule. However,I am skeptical of any rule such as this actually working/ being enforced.
Over the past year it has become blatantly obvious to myself that Reg-SHO is largely ignored by broker-dealers and they continue to navigate the market unpunished. Or loosely punished at most with fines being small fractions of the total profits created.
This market is very broken. And I am unsure if new rules will create compliance amongst the criminal abusers. We dont need new rules to go unenforced. We need to see gross abusers go to jail. We need real consequences.
Heres a quote the SEC should become well acquainted with: When setting expectations, no matter what has been said or written, if substandard performance is accepted and no one is held accountableif there are no consequencesthat poor performance becomes the new standard.
Due to the lack of consequences on Wall Street crime, gross negligence, and misreporting has become the new standard.
Based on my observations, retail is becoming fed up with it.
The mission of the SEC is to protect investors maintain fair, orderly, and efficient markets and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the public's trust.
Thats on the sec.gov website. Trust is easily lost, and very difficult to regain. I pray and hope this comment reaches you, and this rule will take effect. I thank you for your service to the public.