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Nick Alfonso Comment On Regulatory Notice 21-19

Nick Alfonso
Assistant States Attorney

FINRA should absolutely implement each of the proposed regulations. Additionally, FINRA should implement harsher penalties for violations, given that current fines are more often than not calculated into most transactions as a “cost of doing business.” Substantial compliance will not be possible until financial regulations are re-fanged. The current regulatory conditions within our marketplace, and their enforcement (or more aptly, the lack thereof), are robbing the US market of all credibility. Allowing this to continue will have grave consequences for investor faith in our markets.