Apr. 13, 2022
Hello SEC, As an international investor in Australia who has been involved in the US markets since 2003 I am very concerned with the degradation of integrity witnessed. This rule proposal needs to occur and with greater degrees of transparency and faster settlement. I have reported several breaches of US regulatory and financial laws to ASIC which have resulted in investigations and these seem to be increasing in frequency as the years go on. My main issues with the US markets are: PFOF: This should be banned as it does not result in price improvement Trading on non-lit exchanges: This practice serves no benefit and adds complexity to transparency requirements Naked shorting: This is a criminal offence in our markets and identified immediately! I am imploring the SEC to swiftly adopt and introduce this rule and begin to strengthen the rule with architecture that can assist in faster reporting and transparent practice. I fear if there is a failure to do so, the US markets will evolve into a casino only for the US oligarchy of Wall Street. Kind Regards, Zenon