Subject: File No. S7-05-22
From: T. Mooney

February 18, 2022

Over the course of the last few years I've taken a more active role in the purchasing of a and trading of stocks, both in my own country and the USA. In the short time it has grown more apparent that across the modern global economy, particularly in the finance industry, there is an entrenched system whereby bad actors can bend the rules and lobby for the creation of legal and convoluted loopholes which give them an unfair advantage over the average working person and retail trader. Bad actors are front running trades and scalping pennies off the dollar through arbitration as a result of a lack of transparency in markets which often means that the retailer is taken advantage of and left in the dark whilst their investments suffer and lose money. I am fully in support of this rule as a foreign person that participates in your markets and I will support any such rule as this that facilitates further transparency in markets. As collective participants we should continue to strive for a level playing field for all participants and this rule is a step in the right direction.