Carlos Taveras Comment On Regulatory Notice 21-19
Why is a company like Citadel allowed to trade naked shorting, to the point that more than 100% of the company shares are sold.
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Why is a company like Citadel allowed to trade naked shorting, to the point that more than 100% of the company shares are sold.
Please make sure that the fines are enough to deter these predatory short sellers. If the fine is only minimal compared to the gain then people will continue to abuse the rule. Also a locate should always be required before a share is borrowed. It seems shares are being loaned out and not located.
Naked shorting should be illegal. How can a company have more shares to purchase greater than what was issued by the company. This is fraud, deceptive and should be made illegal
There NEEDS to be more transparency in the market, seems pretty clear the market is manipulated daily and no one wants do anything about it because the ones manipulating are lining others pockets. Dark pools need to be gone, there is no reason for them at all. Actual enforcement needs to be engaged, not simple fines while manipulation continues. New investors are disgusted with how Wall Street is and HAS worked for years.
A market is based on supply and demand. A stock market is based on supply and demand. The price on the stock market is normally made by buying and selling shares. Shorting is something else... like someone wants to see a company go bankrupt. In my view this is not the case if investing and the US need to stop allowing shorting. The short interest should not be self reported. That doesn’t make any sense because no one can trust Hedgefonds and their self reported datas because they would not indicate optimistic datas for investors who are long in the stock.
Financial regulation primary purpose is to both create a fair marketplace and create a public perception of a fair marketplace. To do this, financial regulation should work to eliminate uncertainty in the exchange process and work to eliminate volatility not due the fundamentals of the company who stock is being traded.
We need more transparency in the market. We, as retail investors are kept in the dark when it comes to the "free market" while hedge funds blatantly manipulate positions using illegal trading activity. The SEC and all the regulators need to enforce the new laws that have been put into place and quit letting manipulation happen why they take handouts from these financial crooks. So in short terms, we need transparency and we need laws to be held to the highest standards with actual consequences.
I think that transparency of market activity on a daily basis will keep the market safe.
I believe that complete short positions and short interests should be publicly reported on a hourly to daily basis for public knowledge. Without it, retail investors are at an unfair disadvantage.
Short interest reporting should be instantaneous. Not sure why the reporting on SI and other short positions data is so delayed and unreliable but for the market to be fair, both sides of positions need to see all data equally for manipulation to be in check. If changes to short data being made available publicly and in reasonable times then I fear the market will never be fair and retail investors will likely not put money into the system. Please see that all short position data, not only SI data, is made available instantaneously the same way long position data is.