February 7, 2022
As a retail investor I'm in favor of this rule and hope it will be implemented. I've been investing for over 12 years in the market and have seen firsthand how retail traders are pushed around. The big players use their unfair advantages to squeeze money out of retail and use lobbying to make sure we can't fight them. This is just another example of the big players putting their thumbs on the scale and directly hurting the market as well as retail investors. Many people have lost faith in the system precisely because of the lack of enforcement of any of these supposed rules. A small fine does not cut it when the offending party can easily pay it off, and more than half the time they made more way more money on the crime than the cost of the fine. This is just a bribe and the cost of doing business at this point. These rules should have teeth and Gary Gensler should have the power to enforce them to actually police the market.
I look forward to the SEC doing the right thing to preserve the markets and protect the retail investor.