Mar. 15, 2023
March 15, 2023 The proposed rule to 'Prohibit Conflicts Of Interest In Certain Securitizations' was quietly (re)proposed AFTER initial comments 'in support of' the original were made. It was apparent that it was later amended to include exemptions for specific participants - namely market-making giants like Citadel and Virtu - who already appear to be 'exempt' from seemingly everything. This 'exception' to the proposed rule defeats the purpose and intent of the proposal in it's entirety. A FREE market cannot be a FAIR market when you allow exceptions for certain participants to engage in conflicted trades of any kind. 'Rules are for thee, but not me.' It's getting old. Why is Wall Street such sore losers? -HW