Jun. 6, 2022
Hello, I am writing to voice my support for Petition 4-785 Rulemaking petition to invoke SEC Rule 304 (a)(4). The data around FTD's, off-exchange volume, retail / institutional ownership, and many other indicators make it abundantly clear to those who look that rampant manipulation is occurring for tickers AMC, GME, and more. It has been widely known since the mid 2000's that high-frequency traders utilize ATS' to front-run retail orders and manipulate prices through complex algorithms and massive leverage. Additionally, there are massive conflicts of interest when a Market maker/brokerage / hedge fund is assumed to be self-regulatory and the fines in place are simply a cost of doing business in the rare case they are enforced. Ken Griffin also lied to Congress under oath and is a financial terrorist. The SEC is failing your charter to create fair and equitable markets for all. Dark pools, or ATS', have a negative impact on price discovery by artificially increasing the bid-ask spread. The lack of transparency, reporting, and conflicts of interest provide market makers, hedge funds, and institutions unfair informational and functional advantages to retail and creates an open door for manipulation. All orders should be routed to lit exchanges, and if there is truly no manipulation then the impact to price would be negligible. The US stock market is the greatest source of wealth in history, and retail investors are losing confidence everyday due to the blatant failures of the SEC to enforce existing rules and create new ones in pursuit of a market that is fair for all. DO YOUR JOB. Thank you, Will