Subject: File No. S7-10-21
From: Michael J Fornasiero

August 27, 2021

1. Do you have one or more online trading or investment accounts?
Yes, I have one or more accounts that I access both online using a computer and using a mobile app.

2. If your response to Question 1 is Yes, do you think you would trade or invest if you could not do so online using a computer or using a mobile app?
Yes

3. On average, how often do you access your online account?
Daily/more than once a day

4. On average, how often are trades made in your online account, whether by you or someone else?
Once to a few times per month.

5. If you access your account online, did you have the account first, and only began to access it electronically later? Or did you open the account with the idea that you would access it electronically immediately?
I downloaded an app or visited a website first, and then opened up an account with the company

6. My goals for trading or investing in my online account are (check all that apply):
Save and grow my money for short-term goals (in the next year or two)
Save and grow my money for medium- to long-term goals
Have fun

7. What would you like us to know about your experience with the features of your online trading or investment platform? (Examples of features are: social networking tools games, streaks, or contests with prizes points, badges, and leaderboards notifications celebrations for trading visual cues, like changing colors ideas presented at order placement or other curated lists or features subscription and membership tiers or chatbots.)
I make decisions off data, that data presented needs to be accurate and transparent. Platforms like Fidelity provide the tools and data needed to make more calculated decisions (would be better with higher levels of options data or greater transparency into dark pool trade data). Apps like Robbinhood can be misleading in how they present data (oversimplified) and their secondary information (biased finance news articles and selections or tallies of \"ratings or sentiment\") often seem skewed and can manipulate users into making buy or sell decisions that may not be the best opportunity or in their best interest. Retail investors should have the same data access as larger investors, all market participants should have to participate at the same levels of transparency to the market.

8. If you were trading or investing prior to using an online account, how have your investing and trading behaviors changed since you started using your online account? (For example, the amount of money you have invested, your interest in learning about investing and saving for retirement, the amount of time you have spent trading, your knowledge of financial products, the number of trades you have made, the amount of money you have made in trading, your knowledge of the markets, the number of different types of financial products you have traded, or your use of margin.)
Online platforms drastically increased my interest and engagement in investing.

9. How much experience do you have trading or investing in the following products (None, 12 months, 1-2 years, 2-5 years, 5+ years):
Stocks : 5+ Years
Bonds : None
Options : Less Than 12 Months
Mutual Funds : 5+ Years
ETFs : Less Than 12 Months
Futures : None
Cryptocurrencies : Less Than 12 Months
Commodities : None
ClosedEnd Funds : None
Money Market Funds : None
Variable Insurance Products : 5+ Years
Business Development Companies :
Unit Investment Trusts : None

10. What is your understanding, if any, of the circumstances under which trading or investing in your account can be suspended or restricted?
Understood based on range and types of investments.

11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Some platforms do not appear to be acting in the best interests of their users. Additionally some platforms appear to be participating in manipulation of individual stocks, cryptocurrencies, options, and how the markets work themselves.