Quite simply: Laws are created and should be enforced. However, as we can see these consumer protections are not protecting consumers. Violators have little oversight and minimal fees. Allowing transparency allows the market participants to voice their concerns over illegal practices taking place which creates accountability. Market participants can live with a loss, they can not live when they are being cheated and the regulators are not enforcing the laws, preventing illegal activities, or creating penalties that do not compensate those immediately affected. Markets should be efficient. Currently, it is only efficient for those that are able to break the rules. Let the market work. Let’s be transparent. It would alleviate some of the investigative work needed by regulators and create a timely and efficient market place.
Anonymous-JJ Comment On Regulatory Notice 21-19
Quite simply: Laws are created and should be enforced. However, as we can see these consumer protections are not protecting consumers. Violators have little oversight and minimal fees. Allowing transparency allows the market participants to voice their concerns over illegal practices taking place which creates accountability. Market participants can live with a loss, they can not live when they are being cheated and the regulators are not enforcing the laws, preventing illegal activities, or creating penalties that do not compensate those immediately affected. Markets should be efficient. Currently, it is only efficient for those that are able to break the rules. Let the market work. Let’s be transparent. It would alleviate some of the investigative work needed by regulators and create a timely and efficient market place.