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Johnathan Kim Comment On Regulatory Notice 21-19

Johnathan Kim

What good is regulation if there is no enforcement? For far too long, market makers and institutions have been playing the game with their own rules whilst stealing money from the American public. How can this possibly be a free market with the lack of transparency and open manipulation that occurs in the stock market every day for the past several decades? There are a number of things that need to be fixed or addressed in order for retail investors to have any semblance of faith in the U.S. stock market again. 1. Naked short positions need to be reported with total transparency by market makers and institutions 2. Audits need to occur on a frequent basis to ensure that no entity is hiding FTDs/Shorts in options contracts. 3. Dark pools need more regulation. It is ridiculous that these trades can occur without any regulation or enforcement, which can be used to drive up or down the price as market makers/institutions see fit. 4. Anyone bending the rules should not be subjected to a small fine. They deserve jail time for their crimes of stealing money from retail investors. A small fine does nothing but allow them to keep committing the same crime but with a small fee. Please instill faith in the US market again. People around the world are watching and judging your every move. If none of these issues are fixed, and the SEC and FINRA continue to turn a blind eye, I can almost guarantee you that many retail investors, including myself, will NEVER put their money into this corrupt market again. Please be on the right side of history and do the right thing. Otherwise, you will all be remembered as the villains you are. Turning a blind eye and/or being complicit is the same as committing the crime.