Mar. 5, 2023
March 5, 2023 I am in full support of the Regulation Best Execution rule. This rule will critically address unfair arbitrage against retail orders that are paid for by wholesalers who in turn internalize the orders and (at best) withhold them from market competition or (at worst) use this order flow to front run trades or provide inside sources information about trade volume, price, or velocity. The SECs mandate is stated to be to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. By taking responsibility and explicitly rulemaking to enforce NBBO and best execution principles the SEC is one small step closer to upholding its mandate, and not allowing a self-regulatory authority to be the only wolf guarding the hen house.