February 7, 2022
I am in favor of the rules outlined here but the SEC is a long way from earning my trust. The financial collapse in 2008 showed deep corruption between the 1%, US politicians, and Wall Street. The SEC insisted that measures were being taken to punish the people who were responsible and prevent future crimes. Here we are 14 years later and financial crime is worse than it has ever been. Meaningful action by the SEC would include the following: any organization found guilty of violating the S7-32-10 rules should be forced to pay back all of the profits earned from committing them and the guilty individuals should each face a minimum of 5 years in federal prison. All that said, I am sure these new \"rules\" are just lip-service for the SEC to save face in the public eye and that Wall Street will continue to get away with a slap on the wrist after causing another global financial crisis. Until these rules are enforced with crippling fines and jail sentences, I will continue to keep my money out of American markets.