Dec. 26, 2022
December 26, 2022 The SECs duty to the American people is to protect their best interests and preserve their ability to purchase securities at the best price. The proposed rules here appear to be attempting to preserve the publics abilities to receive best execution. However, it is hard to ensure best execution when you have obvious conflicts of interest who have monopolized the system. These conflicts of interest are abundant and a prime example is Citadel LLC, Citadel Securities. Allowing a major market maker to be owned and operated under the same name and same ownership as a major hedgefund is a conflict of interest akin to that of FTX and Alameda, and we all know how that ended It is hard to ensure a free and fair market when the largest retail market makers best interest is aligned with a hedgefund and profiteering instead of best execution. Outlawing this obvious conflict of interest is a necessary and appropriate step in improving the market atmosphere for retail investors.