October 15, 2021
This is nuts. Hedgefunds have been caught breaking the law (no one has done anything to punish them) and now they want the SEC to change the rules of the exchange in order to ensure a \"free and open market\". Hedgefunds are not playing by the rules right now, it's been proven beyond a shadow of a doubt. What makes you think that will change? All this proposal does is negatively effect the retail investors. This proposal allows trading to be halted for up to 2 days when there is perceived market volatility. Robinhood tried that once at the request of Citadel and it stopped retail investors from buying shares of several stocks for several hours, however it did not stop the hedgefunds from buying those stocks ever. Hedgefunds weren't effected then, and if this ruling goes into effect, it won't stop them in the future. How does that ensure a free and open market?
The corruption and illegal activity has been exposed and it's about time the SEC does what they are paid to do.