July 16, 2020
What purpose does this serve except to keep wealth and data out of the hands of the American people? This info will surely be readily leaked to market makers and large funds with the assets to profit accordingly. This will simply make the playing field a few more degrees skewed in favor of those with capital or those with experience. I think, as an American citizen, this is the exact opposite direction our country needs to take in a time when wealth inequality is steadily increasing. I find it disturbing this half baked idea ever made it out of whatever god forsaken board room it was concocted in. This causes a huge lack of trust to have even been made public- is there no one at the SEC who cares about average investors? Isnt that the purpose of the SEC? To make sure everyone plays fair??? This seems like the SEC is here to make sure that a snowflake never turns into a snowball as if wealth should never be distributed to market participants who do not already have wealth and power.
Surely anyone who has American citizens best interest in mind would stifle this proposal immediately. If this rule change is adopted it will be one of the final straws that open the flood gates of liquidity leaving the market. What a hot topic it is to discuss frivolous retail investors ability to move shares. Well how much of a move would it be if they all went bust and pulled all that liquidity out of the market never to return. What will happen then?
Surely then this measure was raised by lobbyists who assume retail traders are too preoccupied with deciding which bankrupt companys shares they should purchase instead of keeping the big wigs honest. Well you are wrong. American citizens get a bad wrap for being ignorant to the ins and outs of the market but please recognize- we are watching we are horrified.