Every share should be tracked with a unique identifier. Every share with a unique identifier should only be allowed to lent out once. Every order should be delivered T+2 or fails mean 10x cost penalty. Every short position should be updated with FINRA daily. All retail but and sell orders should be done in a "lit" market - not retail order should be allowed to be packaged up with other retail orders and sent as "one" to a darkpool. Market Makers should not be allowed to be owned by hedge funds like Citadal or other clear conflict of interest institutions. Market Makers need to fully regulated and they should not be allowed to make market corrections on their own - this should be done with your oversight each and every time. Payment for Order Flow should be banned. Monetary penalties should far outweigh the "cost of business" for those found in violation of SEC/DTCC/FINRA rules and regulations - if the violation led to $100 dollar profit then the fine should be $200 dollars and not .50 cents like it is now.
Brian D Comment On Regulatory Notice 21-19
Every share should be tracked with a unique identifier. Every share with a unique identifier should only be allowed to lent out once. Every order should be delivered T+2 or fails mean 10x cost penalty. Every short position should be updated with FINRA daily. All retail but and sell orders should be done in a "lit" market - not retail order should be allowed to be packaged up with other retail orders and sent as "one" to a darkpool. Market Makers should not be allowed to be owned by hedge funds like Citadal or other clear conflict of interest institutions. Market Makers need to fully regulated and they should not be allowed to make market corrections on their own - this should be done with your oversight each and every time. Payment for Order Flow should be banned. Monetary penalties should far outweigh the "cost of business" for those found in violation of SEC/DTCC/FINRA rules and regulations - if the violation led to $100 dollar profit then the fine should be $200 dollars and not .50 cents like it is now.