October 15, 2021
The passage of this rule has the potential to hurt, not help, millions of retail investors.
The NYSE states that their purpose for proposing this rule is to \"remove impediments to and perfect the mechanism of a free and open market and a national market system.\" Nothing could be further from the truth. The passage of this rule gives power to one individual to halt trading of \"any and all\" securities based solely on that individual's opinion. These are the hallmarks of communism, not of a free market.
If the NYSE is truly interested in supporting a free market, then they need to let the market be free, rather than subjecting it to the whims of a single individual who would, no doubt, cave to the demands of Wall Street institutions at the expense of all retail investors.