October 15, 2021
COMMENTS ATTACHED:
This proposal is a blatant attack on retail investors, who trade based on publicly available information.
The NYSE proposal would irrevocably harm the markets and sow further distrust in our financial institutions since retail investors would pull all their money out of this fraudulent system that takes investors money and never actually tenders shares.
Furthermore, halts for two days is likelier to first anger retail investors and cause much, much larger losses for hedge funds and banks that make bets on the decline of American companies with long histories.
The proposal also does not adequately state restrictions for institutional investing during halts. What this means is that retail will be prevented from buying or selling for 2 days while institutions continue manipulative tactics in the dark pool where up to 70 percent of volume has been traded to negatively impact price action.
When does the attack on retail traders end?