Dec. 29, 2022
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe.
--BEGIN CLL METADATA--
{
"apiVersion": 1.0,
"commentMetadata": {
"comment":
" December 29, 2022
Dear Securities and Exchange Commission,
I am writing to express my strong support for the proposed amendments to update the disclosure required under Rule 605 of Regulation NMS for order executions in national market system stocks. I believe that these amendments will greatly benefit individual investors like myself and the market as a whole by increasing transparency and promoting competition.
One key aspect of these amendments that I appreciate is the expansion of the scope of Rule 605 to include broker-dealers with a larger number of customer accounts, single dealer platforms, and entities that would operate qualified auctions. This will ensure that a wider range of entities are held to the same high standards of execution quality, improving fairness and transparency for all investors.
I also welcome the updates to the scope and content of the standardized monthly reports required under Rule 605. The inclusion of new statistical measures, such as average effective over quoted spread and average size improvement, will provide valuable insights into the execution quality of different types of orders and help investors like myself make more informed decisions.
Additionally, I believe that the proposed amendments will help address some of the negative impacts of payment for order flow (PFOF) and the use of dark pools on the market. By requiring entities that engage in these practices to disclose more detailed information about their execution quality, investors will have a clearer understanding of the potential conflicts of interest and be better able to evaluate the fairness of the prices we receive.
Overall, I believe that these amendments represent a significant step forward in enhancing the transparency and fairness of the market and would greatly benefit individual investors like myself. I strongly urge the Securities and Exchange Commission to adopt these proposed amendments.
Sincerely,
Stephen
",
"commenterInfo": {
"lastName": "Stephen",
"affiliation": "Consultant",
"commenterAddress": {
"streetAddress": "",
"city": "Loxahatchee",
"state": "Florida",
"zip": "33470",
"country": "United States"
},
"email": "Olszewski.Stephen@gmail.com",
"phone": "614-323-1243"
},
"submitterInfo": {
"isThirdParty": "false",
"submitterName": "",
"submitterOrganization": "",
"isAffiliated": "true",
"affiliationName": ""
},
"rulingInfo": {
"fileNumber": "S7-21-21",
"ruling": "s72121",
"rulePath": "/comments/s7-21-21",
"title": "Reopening of Comment Period for Share Repurchase Disclosure Modernization"
},
"commentDate": "December 29, 2022",
"htmlFilename": "s72121-nnnn.htm",
"uploadFilename": []
}
}
--END CLL METADATA--