Mar. 15, 2023
As an American investor, I am against any and all so-called exceptions for “risk-mitigating hedging activities, bona fide market making & certain liquidity commitments” with regard to S7-01-23. The fact that 1 share would fail to deliver in a digital age is beyond comprehension, let alone the millions and millions of shares that fail to deliver every single day. I do not believe any organization can claim "bona fide" marketing making when they also own, or have any connection to hedge funds or other vehicles to profit off the exceptions given. The goal of the SEC should be solely focused on maintaining a level playing field for all parties involved. It doesn't take much imagination to see how badly these exceptions would be abused. There is a well documented history of large market participants abusing loopholes and exceptions to steal billions of dollars from the market, only to be fined a few hundred thousand dollars, paid as a cost of doing business. Thank you for considering my words. Michael Shipe