Subject: Comment for File No. SR-IEX-2025-02
From: Austin Kuhn
Affiliation:

Jul. 11, 2025

I am an individual investor. PFOF Brokers and Wholesalers do not represent my interests, but I know that you already know this. I suspect you don't ever read or consider any of these emails and all that matters is enriching yourself and your cronies regardless of how unfair you've made the playing field for retail investors, but I figured I'd reach out regardless. You all are the biggest toll booth of an organization I've ever come across, inept at stopping blatant fraud that happens daily in the "free and fair" markets you claim to oversee. Stop fails to deliver, stop PFOF, stop abusive naked short selling practices, inform the average investor how rigged the market currently is. Do something outside of measly cost-of-business fines. I dare you! Do something for the retail investor, for once! 


https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3998202 


Warm regards, 
Austin