Bryan Chalker Comment On Regulatory Notice 21-19
While it's nice to see this request from retail investors, good intentions pave roads to nowhere. What is initially needed: - enforcement of existing rules to stop naked shorting - enforcement of existing rules to stop FTDs - enforcement of existing rules to stop dark pool selling of retail orders - enforcement of existing rules to stop labeling shorts as "exempt" from SSR Once the enforcement of existing rules are in place, create new rules that... - penalize hedge funds for naked shorting at a value of 2X each - require dark pool buying and selling to have approval from SEC before it is allowed to be executed. This would give accountability. The dark pool transaction data should then be released real-time to public. - restrict ALL retail orders from being sold in the dark pools (using PFOF) - allow same-day data release to the public of those who are shorting a stock - give FULL real-time data access to the trading data (who, what, when, amount) that goes on for any particular stock These are just to start. The view of the SEC is that is is a toothless joke with corrupt ties to the ones they supposedly are overseeing. By implementing some (if not all) of these, the confidence will be restored and faith in governing bodies might actually solidify with retail investors. By ignoring all of these suggestions/comments, it will also solidify the lack of confidence retail investors have in "the system" and "the process". Don't let this be an empty hand that's reaching out.