Mar. 07, 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. There's absolutely no reasons banks, market makers, or ANYONE in the market should be able to hold the American taxpayers and people hostage because they purposely over leverage themselves and make deals in bad faith. I think some broker-dealers should lose their licenses instead of receiving fines that amount to nothing more than a cost of doing business - a cost that is often outweighed by the ill-gotten gains obtained through “honest mistakes”. again, what Ive already said, there's no reason that the more money people have, the less they're held accountable. 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. In fact, when possible I routinely route through IEX or place my orders directly through Computershare. 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. The last thing I want to say as a retail investor is that in no way shape or form does enforcement of rules and more transparency hurt me, in fact, it greatly benefits me and others as everyone is held to the same standards and has the same information. THERE IS NO REASON FOR LESS TRANSPARENCY. Especially when it comes to money and the stock market. HOLD EVERYONE ACCOUNTABLE. If an average retail investor can be pulled into a Congress hearing and grilled, I expect a lot more for the bigger players in the market. If my tax dollars are paying the SEC to keep the market fair, then I heavily believe that, that is what they should do, FOR ALL MARKET PARTICIPANTS.