Feb. 23, 2023
Dear Sir or Madam, I am writing to express my strong support for SEC rule change 34-96496, which proposes amendments to the current requirements for the regulation of best execution practices by broker-dealers. As an investor, I believe that the duty of broker-dealers to seek the most favorable terms reasonably available when executing client orders is crucial for ensuring fair and efficient markets, and for protecting the interests of investors. The proposed rule change would update and clarify the current requirements, reflecting changes in technology and market structure, and would improve the clarity and consistency of the best execution obligations. I particularly appreciate the proposed requirements for broker-dealers to provide more detailed information to clients about their best execution practices, including information about the types of orders and execution venues used, the factors considered in determining best execution, and the extent to which broker-dealers rely on technology and algorithms in the execution process. This would enhance transparency and enable investors to make more informed decisions when selecting broker-dealers. In addition, the proposed rule change would require broker-dealers to periodically review and assess the execution quality of the different venues used, and to disclose any material conflicts of interest that may impact their ability to provide best execution. This would ensure that broker-dealers are continuously monitoring and improving their best execution practices, and would enhance investor protection. In conclusion, I believe that the proposed rule change would promote fair and efficient markets, enhance investor protection, and improve the clarity and consistency of the best execution obligations. I strongly urge the SEC to adopt this rule change. Thank you for your attention to this matter. Sincerely, Sarah Geno