However, despite these public commitments, retail investors remain deeply skeptical of both the SEC and FINRA, citing concerns over affiliations with anti-regulatory groups, connections to controversial market practices, and unresolved issues like the MMTLP fraud. Retail investors, who have become increasingly active in capital markets, are voicing frustration with the SEC and FINRA, perceiving them as disconnected from the needs of the “small investor.” Retail investors fear that his focus on fostering innovation—such as supporting blockchain technologies and easing restrictions on private markets—may sideline critical issues like market manipulation, counterfeit shares, and trade settlement failures.