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Mary Smith Comment On Regulatory Notice 21-19

Mary Smith

Yes to all. The more transparent, the better. The sooner, the better. Reporting should be on a daily basis, regardless of cost, and I feel that these practices should apply to ALL firms, member or otherwise. This needs to be an across the board regulatory process. The application of these changes, based on membership, will certainly be a cause of competitive discrepancies and will eventually result in new strategies/collusion among member firms and non member firms to circumvent these changes. I understand that perhaps this broader scope of regulation may fall within the responsibilities of a different regulatory body, but we all know the story, here. Still, we have to start somewhere. The simple fact, here is that there must be complete transparency and the dissemination of this information must be done in as close to real time as possible. The public reporting of statistics should be granular to such an extent that it paints a full enough picture without becoming extensive to the point that it becomes impossible for the investor to interpret or infringes upon the privacy of individual investors. Thank you for allowing me to state my opinion. Again, the sooner we achieve equal opportunity in the market, the better.