October 17, 2021
The SEC was created to restore public faith (retail) after the 1929 crash which happened due to fake shares.
This new rule works directly against the public (retail) by stopping their ability to trade while allowing institutions to use a shadow market unavailable to the public. You have made fake shares and shadow markets legal and normal. You have made corruption and market manipulation the standard instead of working to create a fair and open market.
For around 90 years the SEC has been failing, public faith is at an all time low. If this rule is implemented it will be the death of the market you have power over. You are initiating your own end by making this a closed market.