April 20, 2022
I am a retail investor, and this proposal is against a free and fair market. This rule would essentially mitigate all the unpriced value of a stock by essentially equating all stocks to dollar values which flies in the face of a fair market since all securities are priced differently across different sectors and monetary cycles. Also in our markets, because payment-for-order-flow exists which has already limited price discovery, this further allows the lack of true price discovery to be maliciously used by bad actors within the market. This rule adds additional complexity within the market that can only be utilized by bigger players and would only cause the playing field to be more lob sided against retail investors. I am urging you to withdraw this proposal as it is against free and fair markets.