Mar. 06, 2023
I would like to see tougher enforcement of SEC rules with consequences that will actually make a difference. I don't think broker-dealers should receive monetary fines when they are found in non compliance of any rule or portion thereof, instead they should lose their ability to operate as a broker-dealer. You either follow the rules or you don't - it's that simple. I would rather pay commission to avoid being routed through a wholesaler like Citadel Securities. All exchanges should have to quote AND trade in the same increments. I dislike the presence of rebates and other inducements in the marketplace - they are simply payment for order flow by another name. I would prefer you reduce access fees to zero; no "take". I support the tick size regime proposed by the Commission. I support the inclusion of odd lot information in the SIP, and applaud the Commission's efforts to provide individual investors with more information with which to make better investing decisions - especially concerning which firms are allowed to handle our orders. I believe the exclusion of odd lots from the NBBO is a problem. Odd lots are now a majority of trades in the markets. Within some stocks, they are the vast majority. The exclusion of odd lots from the price of a stock amounts to the exclusion of most individual investors - most of the voting public. Please look into a way to fairly and proportionately include odd lots in the calculation of the NBBO. Sincerely, John Glisson