February 7, 2022
Hello,
I am a retail investor and I am in favor of this rule. Although, I am Highly skeptical of it working if its not enforced. A rule without enforcement is just a wish.
I would like to point out that in all of the fraud we curently see on the market, a lot of it is being done using 1) loopholes between rules and jurisdiction and 2) using the reporting calendar, meaning they will hide their doing in between periods of reporting.
In order to avoid this last point, reporting needs to be daily, even possibly in real time to make sure there is no way to hide wrongdoings. Transparency. no more darkpools.
PENALTIES: If the penalty is just a cost and/or a percentage of the wrongdoing, it becomes just a cost of doing business. Fines needs to be WAY higher than the the fraud. Jail needs to be on the table.
Retails are utterly fed up with all the fraud going on in the market right now. things needs to change. Things need to change right now.