October 16, 2021
To whom it may concern,
I am a foreign investor in your stock market and after carefully reading this proposition of the addition of rule 7.13 I am deeply upset and displeased.
Allowing an exchange to suspend trading for days, and the possibility of an undefinition of how many of them, starting with two is preposterous. This is allowing other exchanges such as Dark Pools to continue operating, which we all know since decades that they manipulate the evolution of price discovery doing this as they please through naked shorting.
Foreign investors like me are losing faith completely in your market. We are still trying to see if there could be a signal in favour of restoring the confidence we need to have in a market to continue investing, but this has clearly the opposite effect.
This proposed rule is nothing but the most unfair regulation I've ever heard of.
If an exchange needs to be stopped in full, that means that the problem doesn't lie in the exchange, but in the unfulfilled responsibilities of some institutions and it seems, with this proposed rule, that you are willing to help them.
The SEC is sworn to protect us, investors. Please, do something to stop the addition of rule 7.13. The international community is looking close at how your markets may be avoided at all costs in the future, and that will be far worse than avoiding thr demise of a few institutions that committed illegal naked shorting and other kinds of fraud.
The remaining amount of trust in your market is at play here. Don't ignore this last wake up call. A market is nothing without retail investors, as we use real and hard earned money.
Thank you for taking your time to read me.
Best regards,
Anonymous