Robert Gillette Comment On Regulatory Notice 21-19
Robert Gillette
N/A
I am a retail investor in my later 30's. I have only been contributing to my 401(k) for the last 4 years, and opened my Roth IRA in early 2020. I have not been investing very long, and plan to be working another 30 years before I'll have enough to retire on. I tell you this only because I want you to understand how totally and completely the last 18 months have shaken my confidence in our stock markets. I used to think that while I did not have the influence or capital to shape any part of the market, I did believe that FINRA was there to protect the interest of unimportant people like me. I can no longer delude myself into thinking the game is in any way fair. More importantly, I have conversations every day with people my age who have no intention in contributing what little money they have to prop up a completely rigged game. In my own circle of friends, there are four or five dozen of us that are beginning to understand how bad it is and have no plans to enter the market in their lifetime. There is a whole generation of people who don't believe there is hope; that equates to hundreds of millions dollars that will never be invested. Millennials generally believe in our leaders ability to bend companies to the will of The People. FINRA is one of the only entities that has not been in the news constantly for failing us the last couple years. This is the last chance to get people like me to be believe in the system. Our confidence in the markets is hanging by a thread, and if we don't see these bad actors come to justice or at least STOP their shenanigans you will forfeit any chance you have to get us involved. This it the time for reform. Please take the stops necessary to protect the interests of the many over the interests of the few. Thank you.
Robert Gillette Comment On Regulatory Notice 21-19
I am a retail investor in my later 30's. I have only been contributing to my 401(k) for the last 4 years, and opened my Roth IRA in early 2020. I have not been investing very long, and plan to be working another 30 years before I'll have enough to retire on. I tell you this only because I want you to understand how totally and completely the last 18 months have shaken my confidence in our stock markets. I used to think that while I did not have the influence or capital to shape any part of the market, I did believe that FINRA was there to protect the interest of unimportant people like me. I can no longer delude myself into thinking the game is in any way fair. More importantly, I have conversations every day with people my age who have no intention in contributing what little money they have to prop up a completely rigged game. In my own circle of friends, there are four or five dozen of us that are beginning to understand how bad it is and have no plans to enter the market in their lifetime. There is a whole generation of people who don't believe there is hope; that equates to hundreds of millions dollars that will never be invested. Millennials generally believe in our leaders ability to bend companies to the will of The People. FINRA is one of the only entities that has not been in the news constantly for failing us the last couple years. This is the last chance to get people like me to be believe in the system. Our confidence in the markets is hanging by a thread, and if we don't see these bad actors come to justice or at least STOP their shenanigans you will forfeit any chance you have to get us involved. This it the time for reform. Please take the stops necessary to protect the interests of the many over the interests of the few. Thank you.