Subject: File No. 4-698
From: Jeremy Harper

July 5, 2021

The notion that market makers, clearing firms, and other Wall Street densities be allowed not only to self-police, but to dictate how much they are exposed when they continue to flagrantly disregard the rules and laws that should govern them is ludicrous.

As a retail investor, I cannot stroll to the SEC and discuss punishments if I'm caught with my hand in the cookie jar. They should not, either.

To take it one step further, I believe that fines levied against these institutions should be calculated as 100% of the profits made by any illegal activity. If I make a billion dollars doing illegal things and, when caught, have to pay 1% of my profits, that's tantamount to incentivizing me to do it again, but bigger.