Mar. 07, 2023
As an individual household investor, I would like to start by saying, any rule passed by the SEC is only as good as long as it’s enforced correctly. The fines are hardly a deterrent when they can be seen as a “cost of doing business” more than it is a deterrent to fraud. Much higher fines AND return of any gains should be enforced, including revoking broker-dealer licenses and/or jail time. In regards to the recent equity market structure proposals, I’ve provided a few bullet points on the matter: Paying commission per share to a wholesaler of my choice would be an ideal compared to having my orders routed blindly “for free” through a wholesaler, such as Citadel Securities. This is a company that has been charged by the US Government 73 times. https://files.brokercheck.finra.org/firm/firm_116797.pdf Harmonization of tick sizes across all exchanges would be fair to ALL exchanges: All exchanges should have to quote AND trade the same increments. Fair Markets mean “FAIR MARKETS” across the board for all involved. Rebates and other Inducements are just another name for PFOF and are not preferred. Access fees should equal “0” I support the support the tick size regime proposal from the Commission. It must include clear and concise language so that “loopholes” cannot be found. The inclusion of odd lot information in the SIP would be ideal. A better informed investor is an educated investor. 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. Removing odd lot information from this rule would probably deter me, and many other individual investors from participating in the markets. Please remove all vague language from these rules Thank You, Joey G.