February 8, 2022
lam a retail investor and I am in favor of this rule.
The only thing I will say is that I am skeptical of any
rule such as this actually working/ being enforced.
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 very broken. And I doubt new rules
will create compliance amongst the criminal
abusers. We don't need new rules to go unenforced.
We need to see gross abusers go to jail. We need
real consequences.
Here's 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 accountable-if there are no consequences-
that 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
That's on your organization. Based on my
observations, retail is becoming fed up with it. Trust
is easily lost, and very difficult to regain.