Apr. 17, 2023
April 17, 2023 I am in full support of the proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934. The proposed amendments would provide greater clarity and transparency in defining the term \"exchange\" to include systems that use non-firm trading interest and communication protocols to bring together buyers and sellers of securities. This is especially important in light of the increasing use of tokenized shares, which have been linked to fraudulent activities in the stock market. The proposed amendments would also require ATSs to comply with systems compliance and integrity regulations, which is a crucial step in ensuring that these systems operate in a fair and transparent manner. By requiring electronic filing of Form ATS-R and Form ATS, the Commission would be able to modernize its reporting requirements and more effectively monitor the activities of ATSs. Moreover, the proposed amendments would require NMS Stock ATSs to amend their existing disclosures, which would provide greater transparency and help investors make more informed decisions. This would ultimately contribute to a more efficient and fair market for all participants. Overall, the proposed amendments are a necessary step in uncovering stock market manipulation using tokenized shares and ensuring the integrity of our financial system. I urge the Commission to move forward with these amendments and to continue its efforts to protect investors and promote a fair and transparent market.