@realDonaldTrump @POTUS Retail United Advocacy Group December 5, 2025 Dear President Trump, Attorney General, Members of Congress, and Department of Justice Officials: We write to you today on behalf of the Retail United Advocacy Group, a non-profit organization dedicated to advocating for transparency, fairness, and an equal playing field in our financial markets, as well as the millions of retail investors worldwide who have been systematically disadvantaged by systemic failures in regulatory oversight. Our group was founded to address the persistent inequities that plague retail investors, and we stand united in our demand for immediate action to rectify these injustices. For too long, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have failed in their core mandate to protect retail investors from predatory practices and ensure market integrity. Instead of safeguarding the interests of everyday Americans who invest their hard-earned savings, these agencies have allowed blatant corruption, market manipulation, and exploitative tactics to flourish unchecked. Retail investors have endured widespread issues such as naked short selling, payment for order flow (PFOF) arrangements that prioritize Wall Street profits over fair execution, and the proliferation of dark pools that obscure true market activity. These practices have led to artificial price suppression, inflated short interest, and billions in losses for retail participants, while institutional players reap undue benefits. Criticisms of the SEC's recent policies highlight a troubling shift away from robust investor protections toward favoring industry interests, threatening capital formation and economic stability. Historical analyses, including reviews of the SEC and FINRA’s role in past financial crises, reveal patterns of regulatory dismantling and failure to detect abuses, underscoring a systemic reluctance to enforce rules effectively. We the people have had enough. The trust in our financial system is eroding, and without swift intervention, the divide between retail investors and powerful institutions will only widen. We demand an immediate, thorough, and independent investigation into the SEC and FINRA's practices, including: Their failure to adequately address allegations of market manipulation and naked shorting, as seen in high-profile cases involving stocks like GameStop (GME) and others where retail investors were disproportionately harmed. The lack of enforcement against corrupt practices that allow hedge funds and market makers to engage in predatory shorting without proper locates or borrows. Conflicts of interest within these agencies, including revolving doors between regulators and the firms they oversee, which undermine impartiality. Inadequate protection for vulnerable retail investors, as evidenced by ongoing complaints about unsuitable recommendations, excessive fees, and failures in best execution standards. This investigation must be transparent, involve input from retail advocacy groups like ours, and result in concrete reforms, such as closing loopholes in Regulation SHO, enhancing real-time reporting of short positions, and imposing stricter penalties for violations. We urge you to prioritize this matter, leveraging the authority of the presidency, the Department of Justice, and Congress to hold these agencies accountable and restore faith in our markets. Retail investors are the backbone of America's economy, and their voices must no longer be ignored. We request immediate action to launch this investigation and commit to ongoing dialogue with our group to ensure meaningful change. Thank you for your attention to this critical issue. We look forward to your prompt response and stand ready to provide further information or testimony as needed. On behalf of the Retail United Advocacy Group and Millions of Investors Worldwide Www.whitehouse.gov