March 13, 2022
I am an individual retail investor who began investing in January of 2021, hoping to take some of my savings and invest then to create a future for myself. However it quickly dawned on me, as well as many other individuals and retail investors, that the markets are being used not to create wealth but to funnel it upwards, using dubious loopholes and flagrantly illegal activities, towards the already uber-wealthy.
I support this SEC proposal, as well as any other that promotes transparency for organizations. Organizations should not be allowed to use insider trading to their advantages as it poses an unfair advantage which is not how efficient markets are created/sustained.
And while it may not be relevant to this proposal, I believe that self-regulatory organizations pose an immediate and dangerous risk to the future of the free market. I believe that there should be no organization, whose goal it is to handle money and make investments on behalf of their clients, that are allowed to self regulate and report. It's been abused in the past and it's being abused presently. If no change is made it will be abused in the future. If no changes are made to these transparency problems I think I won't stay in the markets for very long. I suspect also, that I am not the only person who feels this way.
For the future of capitalism to survive there needs to be a regulatory body that does not side with those parties that cry out for less transparency and who are allowed to use overcomplicated financial instruments to suck money out of the markets for their own personal gain.
Again, I will not stay in this market in the future if no changes are made.