January 4, 2022
Additional compliance requirements increase transaction costs. This is so obvious it hardly merits mention, but a certain segment of the financial community will undoubtedly bang that drum in these comments (expressing disingenuous concern about costs being passed along to individual investors.)
This misdirection hides the fact that the information received and shared via this proposed rule would also (at least in theory) increase the public's access to reliable pertinent market information, improving overall market efficiency. Any increased costs (borne by \"the small investor\"?) would almost certainly be trivial in comparison to that same small investor's resultant increased gains.
If market efficiency is considered a good thing, this rule should be implemented as soon as possible and the SEC should be applauded for its effort to democratize access to information in this regard. More (and better) information = less marks = less (or less effective) swindlers = a healthier market.