Subject: S7-29-22: WebForm Comments from Dan Liefwalker
From: Dan Liefwalker
Affiliation:

Mar. 07, 2023

March 7, 2023

 Subject: S7-29-22

As an individual investor, I am in support of this proposed rule change.  I believe that the market can be much improved, and this rule change will allow greater transparency and true market discovery.  I see that this proposed rule also begins to address after-hours market trades, which are available only to financial institutions and likely contributes to market manipulation.

If securities are not fully disclosed in real time at the time of the sale (which this rule does not propose), then the possibility of manipulating the true price discovery for potential profit exists.  If there is a potential for profit with minimal risk of a true financial repercussion (i.e. not profitable) then a for-profit company will do so, regardless of how this compromises a free market.  This rule begins to make these sales more transparent, and I support the proposed rule.