Subject: File No. S7-32-10
From: Jonas Kortemeier

February 7, 2022

The markets are not transparent enough. Nobody can invest confidently and responsibly as long as there is no equal playing field and as long as rules are blatantly disregarded by the more powerful institutions because the repercussions (if any) are not much more than \"the cost of business\".
As a foreigner I have lost my confidence in the American market as well as the enforcement agencies and will not invest as long as retail investors are continued to be left to the sharks without proper oversight.
Punishment for manipulation and obfuscation needs to drastically increase to protect the market as well as the general credibility of the American market.
Ethically it is highly questionable that members of oversight committees or agencies are allowed to be former members of financial institutions or are allowed to join said institutions after their service as overseers.