Jan. 10, 2023
January 10, 2023 S7-29-22 I support this proposal as a necessary first step in making our markets more safe, transparent, and equal between both financial institutions and retail investors. As it stands retail investors are at a significant information disadvantage as compared to other market participants. Purposeful obfuscation by complex market participants (broker-dealers, market makers, etc) not only puts retail investors at a disadvantage while evaluating potential trades / investments, but is also being abused by market participants to manipulate prices. Unfortunately the SEC has thus far been largely unable to adequately monitor for these abuses. This proposal is a necessary first step in increasing market transparency, competition and helping to lessen the information disadvantage faced by retail investors. Further, the increased transparency could help to mitigate the inherent risk created by financial institutions operating behind a veil of secrecy. Informed retail investors can better monitor for crime / abuse (and report it where appropriate) thereby lessening the systemic market risk. By being able to evaluate the quality of execution of broker-dealers / market makers we can raise an alarm when aberrant activity is occurring. Additionally it provides us with better information to make better investment decisions. Again, I support this proposal as I believe it will improve transparency regarding execution quality, information available to retail investors, and potentially protect large numbers of retail investors from predatory market participants. Having seen the damage caused to the average retail investor by predatory market participants (e.g. 2008), I believe this is a necessary first step