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Jake Jordan Comment On Regulatory Notice 21-19

Jake Jordan
N/A

Although I do believe 21-19 will be beneficial towards the progression of building a free and fair market structure, I do not have faith in FINRA's ability to self regulate the parties of Wall Street. By just acknowledging these problems, it does not solve them. Action must be taken. For years, these criminal enterprises have operated in tandem with the entities that regulate them, allowing for mass undertakings of fraud and misreporting that have wreaked havoc on the United States and global financial markets. These criminals are punished by paying a fine that is equivalent to a fraction (usually an incredibly small fraction) of the profits that they made, and are still making, by abusing these practices. I hope that by passing 21-19, FINRA will start to utilize more scrutiny in the analysis of these "more accurate" reports and I remain optimistic that FINRA will seek more severe disciplinary action towards these miscreants. Thank you.