Subject: Re: SEC Proposal on Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Orders (No. S7-30-22)
From: Justin Teasley
Affiliation:

Mar. 06, 2023

 



Every rule the SEC passes is only as good as the enforcement that backs it. I want to see higher fines that actually serve as a significant deterrent.  If there are no significant consequences for the actions of the offending party the fines become the cost of doing business and not something that is a punishment.  I think larger fines and losing their license is needed to make sure that the thievery of people's money is actually disincentivized. 


I fully support the harmonization of tick sizes across all exchanges. I was shocked to learn that some exchanges get special treatment and are able to leverage that special treatment to build monopolies in some areas of the market. All exchanges should have to quote AND trade in the same increments. Some exchanges shouldn’t be granted an unfair advantage over others. It leads to monopolistic control of parts of the market that counteract and eventually kill the positive benefits of competition. The markets are supposed to be fair - so make them fair.  It is absurd to me to think that exchanges have special treatment and yet these are supposedly the "fairest" markets in the world.  That is NOT true.  There is no price discovery because supply and demand are falsely created by market makers and it suppresses real prices based on their "feeling" of what it should be. 


A concerned Household Investor!