Mar. 15, 2023
March 15, 2023
Conflicts of interest should not be tolerated.
Period.
Bona-fide market making should not be an exception.
Risk-mitigation should not be an exception.
Liquidity commitments should not be an exception.
I strongly support prohibiting all possible conflicts of interest that would interfere with fair and transparent markets, and providing exemptions to those rules will only open loopholes that corrupt organizations will exploit.
No exemptions to these proposed rules. It should fall on the market makers to find ways to do their jobs without the conflicts. If that means breaking up companies that are too interconnected then they should absolutely be broken up.
Explain to me how \"mitigating risk\can be accomplished in any rational sense by allowing a conflict of interest. Sounds to me like a means for big investment funds to intentionally make risky moves so they can in turn justify the conflicts.
Liquidity commitments. How about \"don't sell what you don't own\"? Stop allowing liquidity to be the excuse to do whatever you want for the \"sake of the markets\"
Price discovery is dead if you neuter supply and demand.
Enforce this proposal without these amendments and exclusions. Eliminate conflicts of interest. Give the penalties TEETH. Not fraction of a penny per dollar profit fines. Arrest people. Fine them multiple times the profit from the violation. REVOKE THEIR ABILITY TO TRADE.
Sincerely,
A household investor and US Citizen.