Mar. 07, 2023
March 7, 2023 Dear SEC As a retail/household investor I fully support your proposed S7-31-22 Order Competition Rule. It is paramount for a free market that all orders are sent to the lit market. Otherwise the invisible hand is simply inexistent. Let me take this opportunity to draw your attention to failure-to-deliver (FTD). How is it possible that market makers receive money without delivering shares for years at a time? For most people outside of Wall Street this process is called stealing. The fines for long-term FTDs should exceed the profits by a large margin. Prison sentences should be normal in this regard. Please increase your fines for all rule violations. Thank you for considering my comment. Sincerely Florian Rhyn