I believe after reviewing the current rules, and revision suggestions made, that it is INCREDIBLY important that FINRA immediately implement the changes as suggested AS SOON AS POSSIBLE. It is apparent that the system of reporting is severely outdated and antiquated relative to the available technology and communication speeds of today. It has become quite clear that the nature of this antiquated reporting system, and its inefficiencies, have put a strain on the integrity of the United States market as a whole. The significant amount of vagaries as a result of the current policy has allowed for a significant amount of loopholes that, thru the relative actions of the market in the recent months, have been made quite obvious that they are being used a Standards of Operating Procedure for an economically DANGEROUS amount of brokerages, dealers, and market makers to exploit. Many of whom have done so to publicly abusive degrees with little to no restriction or recompense. If FINRA is to be trusted in its charged Duty by the SEC in protecting the interests of ALL investors. It is IMPERATIVE that more nuanced, clear, and concise rules and regulations be defined, and enforced. To allow for greater clarity in communication, and direction for rights and responsibilities to be had. As well as a greater understanding, AND BELIEF, as to the true, fair, and current status of the United States trading markets can be had for all investors.
Reid Hill Comment On Regulatory Notice 21-19
I believe after reviewing the current rules, and revision suggestions made, that it is INCREDIBLY important that FINRA immediately implement the changes as suggested AS SOON AS POSSIBLE. It is apparent that the system of reporting is severely outdated and antiquated relative to the available technology and communication speeds of today. It has become quite clear that the nature of this antiquated reporting system, and its inefficiencies, have put a strain on the integrity of the United States market as a whole. The significant amount of vagaries as a result of the current policy has allowed for a significant amount of loopholes that, thru the relative actions of the market in the recent months, have been made quite obvious that they are being used a Standards of Operating Procedure for an economically DANGEROUS amount of brokerages, dealers, and market makers to exploit. Many of whom have done so to publicly abusive degrees with little to no restriction or recompense. If FINRA is to be trusted in its charged Duty by the SEC in protecting the interests of ALL investors. It is IMPERATIVE that more nuanced, clear, and concise rules and regulations be defined, and enforced. To allow for greater clarity in communication, and direction for rights and responsibilities to be had. As well as a greater understanding, AND BELIEF, as to the true, fair, and current status of the United States trading markets can be had for all investors.