February 7, 2022
The fact that this is merely a proposal this far into our countrys' economy is a testament to just how much regulation and enforcement is missing that allows bad faith actors to continue to take advantage of the lack of oversight in the market.
I truly feel, as a retail investor, that this is the direction that all operable markets should have been heading towards decades ago. There is no such thing as too much transparency or too many rules in a system that is designed to operate with so much of our financial system and well-being at stake.
There are so many loopholes and workarounds that could have (and very likely will have) very real-world consequences for our country. Other countries are vastly ahead of ours in terms of enforcement and regulation the lack of oversight in our markets has made us both the most susceptible to fraud and crime and has made us the laughing stock of and first world country.
Please continue to work towards free and fair markets to eliminate bad actors. There will be multi-billion, possibly multi-trillion dollar industries or companies commenting against these rules. It's far more important for the majority of Americans, and investors in general, to be heard on these matters, as we are the ones who suffer the consequences from the lack thereof.
I'm very excited for upcoming changes designed to protect the average investor, as it is far overdue.
Thank you for allowing, and encouraging, us smaller investors a chance to have a voice. The whole world is watching, and there will be large market forces and political entities throwing everything they have against these systemic changes.
Together, we can do better.