Mar. 24, 2023
March 24, 2023 To Whom It May Concern Reviewing SEC Proposal Prohibition Against Conflicts of Interest in Certain Securitization (Release Nos. 33-11151 File No. S7-01-23), I am very disappointed and extremely concerned by the exemptions in Section 27B. That the SEC would allow there to be any exemptions in a rule designed to prevent conflicts of interest undermines the stated purpose of the proposal. These exemptions render the proposed rule ineffectual. The world banking system is in crisis because of unscrupulous and illegal practices conducted by some of these bona fide market-makers on a daily basis. Why provide any loophole for these bad actors to exploit? How could an exemption for these large institutions possibly level the playing field and remove the major competitive advantage they have always held over household investors like me? Household investors arent allowed to use highly sophisticated algorithms and technology to conduct thousands or hundreds of thousands of trades per second. It is beyond disheartening and saps the little faith I had in the institutions like the SEC that are supposed to protect regular, hard-working people from the predatory practices that are actively destroying the economy and our society. When everyone is so poor they are struggling to survive, there isnt any time or energy left to keep up with these exemptions being snuck past the greater public. There isn't any time or money for household investors to push back against these market-makers and advocate for our best interests. I wish I had enough money to buy a lobbyist, but Im just trying to keep the lights on. Respectfully, Andrew Smith