February 7, 2022
I am a retail investor and I am in favour of this rule. These rules have rarely been enforced with anything other than parking ticket fees. Please make the enforcement perfectly clear in these rules. The punishment should be the entire profit + a 50% of total income gained by the fraudster. The less upfront financial firms are through filibuster tactics the more they pay.
Due to the lack of consequences on Wall Street, blatant crime, gross negligence, and misreporting have become the new standard.
The overall dark pool abuse, (90 - 95% as admitted by Gary Gensler) is a menace for retail investor like me and needs to be capped at 10% at the most. The Pay For Order Flow needs to be banned so that the trial investors don't become the product. Until the hidden positions in married call/puts, naked shorting of securities and ETFs are banned or contained, I will continue my distrust of government SEC officials to enforce any change in these rules. If the past bureaucratic lip service continues I will not have any choice but to remove my funds from security exchanges into crypto or other alternatives where your purchases matter and the money isn't (potentially) inflated.
Retail investors have been swindled by the hedge funds through open fraud. I hope at least this time around, these rules are enforced without mercy and the retail investors are protected. Thank you.
Sincerely,
Sriram V.