January 19, 2022
1. These rules take too long to implement, and when they do get implemented, it seems to never be enforced.
2. The penalties are too small. The general consensus is that the SEC is simply taking their cut in the form of fines. Those found guilty should be fined twice as much as what they profited from the crime PLUS jail time.
3. Nothing of significance has been done in regards to Payment for Order Flow (PFOF) and Dark Pool abuse. PFOF allows for Retail buy orders to continue to be routed through Dark Pools. This enables market makers and hedge funds to delay buy orders from going through to the lit exchange, which affectively stagnates or drives down the price as sell orders are left alone to go straight to lit. Retail investors do not have the resources against this, Ban Dark Pools in the name of fairness.
4. Market makers and what they do is the picture definition of conflict of interest. How is it fair that they allowed to invest on and/or bet against securities in a market that they have control over?
5. Putting it lightly, the general sentiment on Chair Gary Gensler and the SEC is of distrust. In the eyes of everyone watching, the SEC is worthless in keeping the US market fair for all. It seems that the SEC's existence is nothing more than optics, to create the illusion of a fair and regulated market. The daily charts show the US market is neither regulated nor fair. The SEC, in all intents and purposes, is worthless.