Luis Marquez Comment On Regulatory Notice 21-19
more frequent public reporting of short positions and more detail in public reports.
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more frequent public reporting of short positions and more detail in public reports.
There isn’t ANY transparency within the market. Dark pools need to be GONE. SSR needs to be enforced much more strictly. FTDs need to be enforced without delay. The hedge funds leash is way too long. Nobody will trust the market after this.
I dont understand how we as the ou lic can figure these things out about naked shorting, rehypothecation, using OTM calls and Puts to hide FTDs and short positions. How can we find this out with limited information, but it seems large institutions are lost. I think it's fair to say that shorting should be reported because hedge funds and large institutions can't be trusted. I mean it's pure plain and simple capitalism promotes profit. Where's money to be made there will be people abusing the system so why aren't the supposed to report things that could abuse the system?
These enhancements/improvements are absolutely necessary. What's currently being allowed is borderline criminal, and without proper accountability, shareholders are being placed at excessive risk. The current regulatory conditions and enforcement are clearly insufficient, leaving investors/shareholders at higher risk, thus requiring better information in order to make decisions about the level of risk in investments. Especially in regard to synthetics, which are questionable to begin with (it appears the SEC has forgotten the events leading up to the market crash in 2008).
Something I haven't seen mentioned much lately is the use of dark pools to hide and manipulate trades. It has become far more of a common practice for short sellers to utilize dark pool exchanges to manipulate securities. To add to my early comment about transparency, dark pools need to go away. I can't believe that this practice is actually considered legal in what is supposed to be a free and fair market. Even the one function that dark pools are supposed to actually facilitate is absolutely garbage in a free market.
Every share should be tracked with unique identifier. Every share should be located and lent only once. Every order should be delivered T+2 or fails mean 10x cost penalty. Every short position should be updated with FINRA daily.
I’m addition to these proposals, I would like to see stricter enforcement of the Securities Act of 1934 as it pertains to fictitious trading and spreading rumors as a method of price manipulation. As well as stricter rules for dark pool markets. Thank you for everything you do.
Yes, this rule should be changed. Retail investors should have a chance to transparent data and access to all data. Times have changed and retail investors want full transparency to make this a truly free market, retail investors are left in the dark and are always given outdated data and limited access
Transparency. Naked shorts should be included in the short count. All shorts should be reported.
As a hard working citizen of the USA, I put my faith in the government to ensure the system work for all investors. It is hard enough for folks having to deal with rising real estate and other costs, but I am told to work hard and invest to offset. I am losing faith in the system and the government who sworn to protect all investors. I do not understand why short sellers have so many opportunities and loop holes to fail delivery. A transaction should be transparent and if you cannot deliver on your shares on a timely manner then you ought to not be part of the transaction.