Apr. 20, 2022
I would like to formally protest this rule. It would harm retail traders and serve only to protect large institutions who are overleveraged. This rule is a fraudulent attempt to negate market fairness, openness and transparency. This is akin to the 2008 wall street bailout and the middle class will not fall on the sword a 2nd time. Large banks and hedge funds have grown exponentially richer over the last 2 years at the expense of retail and middle class americans. Market makers have essentially "printed" synthetic shares indefinitely to a level in which they can control the price as they see fit. Ownership of stock in a company no longer accurately reflects supply and demand, and true price discovery is thwarted time and again by use of dark pools, payment for order flow and other alternative pools. This rule only serves to reinforce these destructive practices in the market by letting bad actors off the hook when they hold pensions and 401ks hostage. Furthermore, passage of this rule signals that retail has no chance of generating meaningful wealth in the stock market as a whole. The rules are being changed right before our very eyes and the SEC needs to serve the interests of the general public and retailers. I will assume that the SEC is no more than a puppet of big banks and market makers if they move to pass this rule. M. Ball Dallas, Texas --