February 7, 2022
I am a retail investor and I am in favor of this rule. The only thing I will say is that I am skeptical of any rule such as this actually working/ being enforced.
Over the past year, it has become completely obvious that Reg-SHO is largely ignored by broker-dealers and they continue to navigate the market unpunished. Or loosely punished at best with fines being small fractions of the total profits created.
This market is very broken. And I doubt new rules will create compliance amongst the criminal abusers. We dont need new rules to go unenforced. We need to see gross abusers go to jail. We need real consequences.
Due to the lack of consequences on Wall Street crime, gross negligence, and misreporting have become the new standard.
Thats on your organization. Based on my observations, retail is becoming fed up with it. Trust is easily lost, and very difficult to regain.