February 7, 2022
I am a retail investor and I am in favor of this rule.
Over the past year it has become completely obvious that Reg-SHO is largely ignored by broker-dealers and they continue to navigate the market unpunished. Or loosely punished at best with fines being small fractions of the total profits created.
This market is not curtailing abuse or promoting fair price discovery and valuation as intended. We need to see gross abusers go to jail. We need real consequences.
Heres a quote the SEC should become well acquainted with:When setting expectations, no matter what has been said or written, if substandard performance is accepted and no one is held accountableif there are no consequencesthat poor performance becomes the new standard.
Due to the lack of consequences on Wall Street crime, gross negligence, and misreporting has become the new standard.