Feb. 23, 2023
February 23, 2023 I am strongly in favor of this proposal by the Securities and Exchange Commission (SEC) to require broker-dealers to disclose more information about their handling of customer orders. This proposal will provide investors with greater transparency into the order execution process, which is critical for making informed investment decisions. The additional information about execution quality, speed, and price will enable investors to assess the performance of their investments and identify potential areas for improvement. The requirement for quarterly reports will also provide investors with ongoing information to monitor their investments, which is particularly important for those with long-term holdings. Moreover, this proposal has the potential to promote greater competition among broker-dealers by incentivizing them to improve their execution quality. The public reporting of execution statistics will encourage broker-dealers to strive for better execution outcomes and compete on quality rather than just on price. Overall, this proposal is a step in the right direction towards increasing transparency, accountability, and fairness in the financial system. It will ultimately benefit investors, promote market efficiency, and strengthen confidence in the financial industry.