Feb. 08, 2022
Hello, As a new retail investor I am in favor of this rule. If enforced, this rule has an opportunity to bring light to a dark market. 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. I believe the markets are broken. I doubt new rules will create compliance amongst the criminal abusers. We need the current laws enforced before I believe that any new laws will be. 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.