Mar. 31, 2023
Regarding this rule, I believe the SEC should reduce the conflicts of interests by increasing transparency in the routing of orders by brokers and wholesalers. Regarding ATS, I believe the should submit detailed disclosures regarding their operations. As well as establishing and enforcing written policies and procedures to prevent fraudulent and manipulative practices. Anything that helps prevent fraudulence in the market I think all household investors can support. I believe a cap on the amount wholesalers and brokers can charge in lieu of a ban on payment for order flow. We all want fair pricing and I don’t think any person would be okay with being stolen from constantly while being left in the dark because of little to no transparency, as well as small fines to organizations taking advantage of the thefts they are comitting. When organizations make all this money from stealing and dark practices within the market, it’s hard to believe in the authority of SEC when the fines they induce or only a small fraction of the amount that was allegedly stolen. Thanks for your time, Austin H