Mar. 15, 2023
March 15, 2023 What implementing Section 27B of the Securities Act of 1933 does is it essentially gives market makers an avenue to endlessly naked short, and creates massive conflicts of interest between market makers and pretty much everyone else. At what point does the SEC take action for the common household investor? 1. The proposed rule fails to protect household investors. By omitting offerings from registration, this proposal would reduce the amount of transparency in our market. 2. The proposed changes would provide manipulative hedge funds with an opportunity to exploit the exemption. With this exemption it appears the proposed change would enable hedge funds to create fake accredited investor accounts and carry out manipulative behavior while evading regulation. The proposed rule change is concerning from an overall perspective. It further obfuscates the stock market and pushes the United States closer to a kleptocracy. This rule should not be implemented and I am commenting asking SEC to NOT implement this rule. Thank you.