Mar. 23, 2023
March 23, 2023 To whom it may concern, As a household investor, I strongly oppose the proposed exceptions to risk-mitigating hedging activities, bona fide market-making activities, and liquidity commitments that would allow certain market making participants to engage in a conflicted transaction as defined by Section 27B of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Providing exceptions to this rule inherently produces conflicts of interest whereby the exempt party benefits from being above the rules and regulations that govern the remaining participants by having access to information/loopholes that others do not. The mission statement of the SEC, as quoted from the about page on their own website is to protect investors maintain fair, orderly, and efficient markets and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the publics trust. Writing in exceptions for certain participants, outside of the public sector, perpetuates the power differential between market making participants and household investors that has already been allowed to exist within the market, as a whole. This kind of exception opens the door for activities that are so far outside the SECs mission statement, as written, it is unconscionable to think that these exceptions would even be considered. Please remove any and all exceptions from this proposal. The market should be returned to a fair status for all participants, not catered to those with the ability to avoid regulation by exception. Thank you for your attention on this matter.