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Predatory naked short selling is the bane of healthy markets in this age. The tricks these funds use to hide these positions are unacceptable and frankly just plain cheating. SI reports are basically useless as all a company need do is simply report false data and pay a measly fine. There are too many holes in this ship and it is quickly filling with water. FINRA is largely toothless to stop this as the fines you hand out are minuscule in comparison to profits. All you are doing is taking your cut, the fines you give out need a few more zeroes before it hurts.
1) Daily short reporting, not this every 15 days nonsense. If we rob a bank we go to jail, the hedge funds pay a $1,000 fine and go back to work and profiting. 2) No more restricted trading. Blockchain type IDs for every share issued and no borrowing of shares at all. 3) No selling of shares that don’t exist at made up prices. Get rid of the market maker exception. This violates the law of supply and demand.
Why on God's green Earth would short interest be something self reported? This has been the free money printing scheme since the dawn of ages. What happens when the people with IOU's come to collect their gold and there's more IOU's than gold? We're talking government collapse! The average American investor has been propping up Wall St. since the beginning, we watched our father's father's get abused by the system. We are no longer remaining silent. We are no longer remaining content.
I’m not going to pretend that I know more then the sec. I’ll just say one thing. Enforce the rules you have in place, and stop [REDACTED] for someone because they have billions in the bank. We the people won’t [REDACTED] for you or them any longer. And when this transfer of wealth is complete there will be an all new era in America and I for one, can’t wait.
I think individual investors are severely disadvantaged when compared to other market participants when it comes to the issue of access to information. We desperately need more transparency surrounding short selling. I urge you to implement requirements for more frequent reporting of short positions. Anything you can do to get more data in the hands of the public is a step in the right direction.