February 7, 2022
I would first like to commend the SEC for these rule proposals. I think its a shame that these rules aren't already in place, and welcome the change they should invoke. A corrective functioning of the SWAPS market and dark pool internalization transparency are very much needed.
Im not an expert by any means, but I pay attention. The OTC market has had some unorthodox behaviors within the last couple of years. Ive noticed various over the counter stocks with huge gains or losses daily. Some of these are zombie stocks whereby the company had been bankrupted and dead, by the ticker price comes back to life. I also find it disturbing that the head of the CFTC issued a two year blanket non reporting of swaps regulation last October. Why would he do this? There was no follow up or reason provided.
I also have held stocks that have been abused by illegal shorting tactics. One is Tesla (TSLA) and the others some of the more recent meme stocks that have all been exposed to naked short selling, or married put and call, dark pool internalization, and more. Its disheartening to know that these firms find it so necessary to gamify the system through questionably illegal tactics that largely go unobserved and unregulated.
I truly feel these new regulations are a big step in the right direction for the market and market participants moving forward. Thank you for taking the time to read my comments, and I hope we can make the markets operate fairly for all investors, namely retail.