February 7, 2022
I am a retail investor and I am in favour of this rule. These rules have rarely been enforced with anything other than slaps on the wrist at best. Please make the enforcement perfectly clear in these rules. The punishment should be the profit + a percent of total income for investigation. The less upfront financial firms are through filibuster tactics the more they pay.
Due to the lack of consequences on Wall Street crime, gross negligence, and misreporting have become the new standard.
Until the overall dark pool abuse, (90 - 95% as admitted by Gary Gensler) is resolved, hidden positions in married call/puts, and naked shorting are prevented I will continue my distrust of government officials to enforce any change in these rules. If the past bureaucratic lip service continues I fear that many other disgruntled retail investors will take their funds from the NYSE exchange into crypto. Where your purchases matter and the money isn't (potentially) inflated.
Please allow the movement of open ledgers and transparent financial structures to exist without the same greedy loopholes left open by a lack of enforcement and allowing arbitration to be the way things are decided. Grow some fangs, Gensler. The world needs it.