February 7, 2022
To whom it concerns,
I am a retail investor from the UK who strongly supports the proposed rule changes.
Rule 9j-1 and 10B-1 in particular have been a long time coming and are absolutely needed to enable the transparency that provides a level playing field for all traders, retail and institutional.
It is my perspective that the current system is strongly rigged in favour of said institutions, and rules like this are required AS SOON AS POSSIBLE. I'd urge the SEC to see this rule implemented and enforced with immediacy.
In enforcing it, I would urge the SEC actually give teeth to repercussions for failure to comply unlike much current regulation, where institutions regularly flout, are handed minimal fines, and continue to operate in the same manner.
I appreciate my ability to buy stocks in US companies I believe in with vision and mission, however without more transparency and regulation, it's clear from the past year's events back to the 'disabling of the buy button' that retail investors are on the bum end of a deal that sees the vast majority squeezed of earnings and life savings, to the benefit of the privileged few who have learned how to effectively game the system through measures such as opaque swaps, which is why I cannot support these rule changes enough.
Best regards,
Daniel Powell