You know i love the saying: it's uh, don't bite the hand that feeds you and in most situations i'd say nine out of ten. That's uh! That's a situation that i'd agree with. You know you don't wan na you don't wan na piss off the guy. That pays your bills whatever, but that one out of ten times you can't help but freaking smile.

When you see something like this, because i will tell you, there are people at the sec who are not very happy with gary gensler and the way that he has been approaching regulation and protection of investors. I'm going to show you guys a quick article. It's going to be linked down in the pinned comment if you want to check that out, but this is about two different commissioners who work underneath gary gensler you've got commissioner hester m pearce and commissioner elad l roizman, and both made public statements on december 13th, which Was yesterday regarding gary gensler's attempt to protect retail investors now i will tell you that uh, i think you've got two sort of facets of problems within corruption, manipulation, a lack of transparency within the market, and it falls on two parties right. One of them is the bad actors, and the second is the protecting entity, the sec, which is supposed to govern and regulate the space in the first place.

Looking the other way, i tweeted about this because it actually genuinely pisses me off it's it's the fact that these guys have all just kind of looked the other way. You know what a naked short selling taste case you, three years four years to bust down on we've, seen these sort of things in the past uh. They just typically want to go like this. How much is it hurting people? Is it really that big of a deal right - and this is addressing that, while gary gensler's newly released regulatory agenda is ambitious and scorpio disappointed with its content? There's a couple different things that i'm going to briefly touch on here.

That, i think, are important and it's regarding protecting investors and efficient, fair markets check this out the first from this maintaining fair, orderly and efficient markets of clause 2.. The first of the proposed exemption from exchange act rule 15, charlie 2-11, for certain replications of poker dealer. Quotations on an expert market, the commission recently amended rule blah blah blah to enhance the requirements of broker dealers satisfied before it initiates or resumes the quotation of a security in the over-the-counter otc market. Now, when people very broadly talk about dark pool trading right off exchange trading, that is uh an ats, an alternative trading system, in reality, that's meant for institutions.

Otc is where a lot of different retail investor orders get filled off exchange. Essentially, these are internalized orders that get filled by a market maker. Otc is what this is referring to. These are some of the problems that affect us directly right.

They make comments on this. While we supported the important investor protections, these changes brought. We also cautioned as the many commenters that the amendments could have unintended adverse consequences for certain investors of companies that choose not to make disclosures. Now i don't know, i don't know how i feel about this, but it does tell you one main thing right: it does tell you that they are focusing on otc markets.

As for the the unintended adverse consequences for certain investors of companies that choose not to make disclosures, that's sort of uh in the hands of each individual company right, whether or not they make disclosures about certain things, that's part of the game of the market right! That's not the system itself, that's an individual company within the system. Their main priority should be protecting investors and they already have some red flags being drawn up here with otc markets right furthering investor protection class. Three. This is the one that i find the most fascinating.

The agenda also comes up short on furthering the investor protection prong of our mission, by failing to provide more clarity on digital assets. Now what is this referring to cryptocurrency? In the past couple of years, cryptocurrency has gone on a massive massive bull run, very obviously, and within that there's been a lot of pump and dump schemes a lot of coins and a lot of i'd, say: uh bad actors within to be honest with you, the Twitter sphere, the the reddit sphere, the youtube sphere, there's a lot of guys that push absolute trash and while it's up to each individual investor, to know uh to be able to differentiate between good and bad. There are also people who are hopeful who tried to uh. Make money, despite the fact that hey this is a gamble.

This is a bet this. This could be a scam and there's not really a lot of regulation regarding that and these guys critiqued gary gensler for staying silent on the matter right. If you were silent, silence speaks volumes, it tells people what you're thinking tells people. What you want to talk about tells people what you don't feel comfortable talking about, and they address this rather than taking on a difficult task and formulating rules to allow investors and regulated entities to interact with digital assets, including digital asset securities.

The agenda, through its signs on crypto signals that the market can expect continued questions around the application of our securities laws to this area of increasing investor interest. Now, that's obviously problematic. That's just something that gary gensler's, obviously looking the other way on. You know and you're getting some pressure from his colleagues saying, look dude, get your finger out of your butt and and stop sniffing it first off and second off.

What are you gon na do with these problems right? These are things that are very obvious to not just us, but to everybody. Many many commenters, many many bystanders who watch the markets do what they do right. You got to do something the fourth class undermining precedent. The agenda makes plenty of room for rule makings to undo rule makings that the commission only recently completed.

These include proposals to further amend our rules on proxy solicitation and shareholder proposals. The resource extraction payments rule the rules pertaining to the accredited investor definition, the private, offering exemption integration framework, as well as our whistleblower rules, whistleblower rules. These are literally meant to incentivize people, to protect investors and the way that these rules are being written. It seems pretty political from what these guys are saying right.

If you were making a rule so easily reversible that uh, it basically holds no water right, it's a bucket with a hole in the bottom. You basically just have a comb right. You've got a cone that you're putting this water in that's a problem right, there's, absolutely no confidence in anything that you're putting out there i'll tell you this right. I don't have any sort of confidence in the near future.

This is probably how i'll end this video. I don't have any sort of confidence in the near future that uh the sec is gon na, have any sort of groundbreaking something come out right uh. I have more faith in basically anything else, but maybe the doj who knows department of justice. I will tell you this: there are people within the sec who are frustrated with gary gensler himself, and i hope that he feels the heat man.

I hope that he does, because this is frustrating uh frustrating for us too, and these guys recognize it that doesn't make the problem better, but it does tell you that there's a discussion nonetheless or at the very least uh about these different topics. Now this goes into deeper depth. If you'd like to read the whole thing go ahead, i just highlighted what i thought was the most interesting stuff. They all also talk about capital formation, uh briefly, uh, essentially just raising capital.

If people do want to do so, and - and that's basically the piece that was released here yesterday - but it's important to see this - i think i, i think uh that it's at least entertaining to know that inside the beast, the cogs of the machine itself there's some Jarring some friction: they need to put a little bit of that lubrication oil in there to get things moving uh, because these guys are basically all smelling each other's farts waiting for something to happen. That's what i've got for this video appreciate you all catch all the next one, much lovely taps, peace.