Mar. 12, 2023
There are two sides to an ordered society: 1) Having rules everyone can follow 2) Enforcing those rules. To that end, penalties need to be HIGHER than the profits gained. If $1000 is the fine for making $100,000, then I'll rack up as many $1000 fines as it takes so long as I get $99,000 of profit every time. But if I get a $101,000 fine every time I make $100,000, then I have no reason to break that rule as it costs me money. Penalties need to stop being slaps on the wrist. You're a government regulating agency, not a group of thugs who let anyone who can afford your fees flagrantly break the rules! Repeat rule breakers should lose their licenses, and the leaders / responsible parties in those companies should get lifetime bans from finance in addition to losing their ill-gotten gains. We MUST effectively punish cheaters, or society collapses. With respect to rule File No. S7-31-22, Release No.34-96495, I fully support its implementation and would like to see it implemented as soon as possible. It does not require modification and should be implemented in its current form