Mar. 24, 2023
March 24, 2023
Good afternoon,
Broadly speaking, I am for the proposed rule and believe it offers investors more protections than currently exist in the US financial markets. However, I am strongly and vehemently against allowing any exceptions for \"risk-mitigating hedging activities, bona fide market making certain liquidity commitments\". The rules of the markets should be enforceable for every investor and market participant. There should be no exceptions for any party as having them by definition creates unfair markets, which this proposal aims to mitigate in the first place
The proposed rule would be easily exploited by manipulative hedge funds. Many hedge funds have a history of criminal and manipulative behavior in the securities markets as evidenced by the fines levied against them by the SEC. Allowing these exceptions would offer these types of funds an opportunity to continue engaging in additional manipulative activities.
Furthermore, the proposed rule inadequately protects retail / household investors by reducing the information available to them. The lack of information disadvantages individual household investors, potentially leading to investment decisions made with incomplete or incorrect information.
Please revise the rule to eliminate the exceptions full stop.
Warm regards,
Armon