February 8, 2022
I am a retail investor and I am in favor of this rule. However I am skeptical of any rule such as this actually working/ being enforced.
Over the past year it has become completely obvious that a lot of rules such as Reg-SHO are largely ignored by broker-dealers and market makers and they continue to play with the market unpunished. Or fined a fraction of the profits gained from their actions.
This market is broken. It is not a free market where true competition and price discovery holds true.
And I doubt new rules will create compliance amongst the criminal abusers. We dont need new rules to go unenforced. We need to see gross abusers go to jail. We need real consequences.
Due to the lack of consequences on Wall Street crime, gross negligence, and misreporting has become the new standard.
Thats on your organization. Based on my observations, retail is becoming fed up with it. Trust is easily lost, and very difficult to regain.