Mar. 06, 2023
Dear SEC, As a household investor, I am deeply concerned about the state of the market and the lack of adequate enforcement by the SEC. I believe that every rule the SEC passes is only as good as the enforcement that backs it. Therefore, I urge the SEC to take stronger actions to enforce the rules in the market. Firstly, I want to see higher fines that actually serve as a significant deterrent. The current fines are not enough to discourage fraudulent activities in the market. I urge the SEC to impose higher fines that will make companies think twice before engaging in illegal practices. Secondly, I think some broker-dealers should lose their licenses instead of receiving fines that amount to nothing more than a cost of doing business. It is outrageous that some companies continue to engage in illegal practices despite being fined multiple times. I urge the SEC to take stronger actions against these companies and revoke their licenses. Thirdly, I would gladly pay 12 cents more a share to avoid being routed through a wholesaler that has been charged over 70 times by the United States government. It is unacceptable that my investments are being routed through companies with such a record. I urge the SEC to ensure that my investments are not routed through such companies. Fourthly, I would gladly pay commission to avoid being routed through a wholesaler, especially one with a long record of flouting the law like Citadel Securities. I urge the SEC to ensure that companies like Citadel Securities do not have an unfair advantage over other companies and that all investors are treated fairly. Finally, I fully support the harmonization of tick sizes across all exchanges. It is unacceptable 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. In conclusion, I urge the SEC to take stronger actions to enforce the rules in the market and ensure fairness for all investors. I hope that the SEC will take my concerns seriously and take appropriate action. Sincerely, Kyle