April 23, 2022
After reviewing the proposed rule, and participating in forum discussions on this proposed rule, it has become clear that this rule IS NOT in the interest of retail investors, and any attempt to persuade retail investors that it is in our interest will be be refuted.
Retail investors are extremely important to the overall market, and continued attempts by the SEC to protect us are not working. The only way to protect retail investors is to level the playing field, i.e.: truly regulating the use/abuse of dark pools, eliminating PFOF, and regulating or outright eliminating naked shorting of stocks. The market makers and hedge funds have tools at their disposal that will never truly level the playing field, but proposing rule changes to essentially bail out MM and HF when they screw up is not the answer either. The SEC has essentially two jobs: keep the stock market fair and transparent, and punish those individuals and companies that operate outside the rules. Thank you for your time.