Sep. 14, 2023
For the sake of U.S. economic health and national security, it is critical that the proposed rule SR-FINRA-2023-011 is not approved. Although the market varies from the underlying economy, it is abundantly clear that the market has decoupled from the bleeding economy. A trove of currently legal, yet morally illicit loopholes allow abuses that act as siphons from the US market, worker's retirements, and household investor's market participation. Occasionally, bad actors get caught in vulnerable situation, and routinely we see that waivers, rather than appropriate punitive (or even appropriate compensatory) enforcement is the result. Waivers associated with Instinet in recent years shines a glaring light on this failure of market regulation. SR-FINRA-2015-036 was originally implemented in December of 2016. Pray tell... how can any honest market regulator truly believe that the associated amendments (to Rule 4210) should be further delayed to May 2024 (or any time period that is not before the calendar year's end)? It has been nearly seven (7) Years. There is no excuse to delay implementation. Necessitating more time to evaluate is an admission of failure to perform market regulation duties. The U.S. people and economy cannot handle much more blatant (even if obscured) theft from Wall Street. Delaying implementation of these margin requirements only allows more time for theft. Do the right thing.