February 7, 2022
I am writing to express my support of this rule as both a retail investor and a long-time financial advisor in the industry. Like many others, much has been brought to light during the pandemic, as we try to navigate a changing world. One area of particular alarm has been the 'plumbing' and lack of transparency in the financial markets.
It pains me to come to the realization that I indirectly have been contributing to a system lacking enforcement and oversight at the highest levels of our society. Based on the extensive licensing, training, and compliance at the firm/FINRA level, it was my belief that abuses were few and far between. More so, any such abuses would be audited, regulated and properly penalized. This could not be further from the truth.
The truth is our markets and the key power brokers (hedge funds, investments banks, and regulators) have been left unchecked for generations. The \"cost of doing business\" fines that get levied too late, the delayed press releases that get buried, and all the legalese-pandering have amounted to a current system ripe with fraud and operating like a Ponzi scheme.
It is my sincere wish that disclosures and rule changes like S7-32-0-10 are enacted and ENFORCED swiftly. Otherwise, current and certainly future generations will no longer look to the American equity markets for investment, capital, and opportunity.