Mar. 23, 2023
Hey there, Myself and many other individual investors have major concerns about the proposed rule to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. After checking it over, there seems almost no question that it will screw over "small fish" retail investors like myself and give a lot of the same free reign to the typical excessively greedy hedge funds to run rampant and avariciously gobble up even more of our democracy. Straight from the proposal itself, under no circumstances should there be any exceptions for "risk-mitigating hedging activities, bona fide market making & certain liquidity commitments." If these folks truly are the best of the best in the investment world, why the heck would they need MORE advantages anyway? "Trading is a tough game", isn't it? Going back to the SEC motto, if you let rules like this pass, then how can it be honestly said that the SEC is protecting anyone but the folks who need the least protection, and who take actions regularly that undermine nearly any semblance of fair, orderly, or efficient markets we have left? The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. Thanks for doing the right thing (most of the time), Ben Schaefer