The SEC's efforts to reform equity markets and put an end to excessive off-exchange trading are under attack. The Members of the House Financial Services Committee have decided to listen to a small group of powerful firms, and are trying to stop the SEC from doing anything to fix our market structure. They are including this language in the Fiscal Year 2024 final appropriations bill:
SEC. 552. None of the funds made available by this Act may be used to finalize, implement, or enforce the rulemaking entitled ‘‘Regulation Best Execution’’, ‘‘Order Competition Rule’’, and ‘‘Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Order’’.
It's time to remind Congress who they work for.
How To Have Your Voice Heard
It's time to Call and Write to Congress and let them know that you care.
- If you want to call your member of Congress using the module below. Enter your address and phone number, and get connected quickly and easily to your Representative's office. Not sure what to say? Scroll down for recommended language! Please be kind when you call - we're trying to influence the process, not make enemies.
- To send an email or mail a letter, you can use the House's site. Enter your ZIP code to find your member's email and mailing address. Scroll down for recommended language!
- Share this on social media! Let everyone know that you've gotten involved in the process, that you've put the effort in to make yourself heard, and encourage them to do the same. Use the hashtag #WeTheInvestors or tag us at @WeTheInvestors_ on Twitter.
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Sample Script for Calling / Emailing / Mailing
Hi - I am [name] from [town]. Thank you for your time. I am contacting you to express my opposition to the proposed rider being considered for inclusion in the final appropriations bill that would defund the SEC's efforts to reform equity market structure, including regulations Best Ex, OCR and NMS. These rules are critical for modernizing our markets, reducing concentration and increasing competition. They are not enough - they are just the start of the comprehensive overhaul needed in our markets. I urge you to listen to your constituents and ensure this rider is not included. I also want to express support for the efforts of We The Investors, especially in pushing for a trade-at rule in place of the Order Competition Rule.