Feb. 23, 2023
February 23, 2023 Good Evening, I am a household investor and I think we need to do everything we can to make the market free and fair for everyone. I am in favor of this proposal except for the exceptions lined out in section 27b. Short selling in its current form is being abused and is detrimental to our market. Household investors do not have the access to same level of resources that institutional investors use daily. We need more transparency and accountability in our markets. I think there should not be any exceptions to this rule. Short selling is a problem in our markets. Fail to delivers are also a problem in this market. There is no reason that there should be fail to delivers(FTD) in this day and age. There should be a fine of $1,000 for each share of stock that FTD. This would fix the problem as no one would FTD. A FTD occurs when someone sells something they do not own and THEY decided that instead of buying it on the open market they would rather FTD. This creates a negative feedback loop where FTD just become a part of business. This prohibits price discovery. I think there is no need for market makers to have abusive powers that allow them to create shares out of thin air, and decide what the price of a security should be or how much to let it increase or decrease in price. Market makers are abusing stocks they have a self interest in manipulating. We should be breaking up market makers from being able to also own hedge funds and personally inve st in individual stocks, and certain ETFS. Market maker individuals should ONLY be able to invest in the SP500 and no other ETFS as they have insider information. Market maker companies should be 100% separate from hedge funds. One of the reasons why there are securities that are detached from their supply and demand fundamentals are due to the exceptions in 27b. The proposal does little to fix the problems if it allows exemptions. The market makers are sending all household investor orders to darkpools which do not impact the price of the security. This is the cause of the problem. We need enforcement and mandate tough rules to prevent powerful market makers from prioritizing their profits over providing fair markets.