Phil Comment On Regulatory Notice 21-19
T-0 settlement. Excessive FTDs to be ruled as criminal. Naked options illegal. No dark pool shorting to get around the SSR
For the Public
FINRA Data provides non-commercial use of data, specifically the ability to save data views and create and manage a Bond Watchlist.
For Industry Professionals
Registered representatives can fulfill Continuing Education requirements, view their industry CRD record and perform other compliance tasks.
For Member Firms
Firm compliance professionals can access filings and requests, run reports and submit support tickets.
T-0 settlement. Excessive FTDs to be ruled as criminal. Naked options illegal. No dark pool shorting to get around the SSR
More frequent public reporting of short positions and more detail in public. Thank you
Rule 1. All short sale shall be reported to finra by end of each settlement day. Rule 2. Finra shall make public report the day to day short sale by end of settlement day or the trading week. Rule 3. All unused loaned shares shall be reported to finra by end of settlement day. Rule 4. Finra shall make public the outstanding unused loaned share by end of settlement day of a trading week. Rule 5. All threshold securities regulation shall be reported daily with full accounting of fail to deliver end by end of settlement day. Rule 6.
Rule 1. All short sale shall be reported to finra by end of each settlement day. Rule 2. Finra shall make public report the day to day short sale by end of settlement day or the trading week. Rule 3. All unused loaned shares shall be reported to finra by end of settlement day. Rule 4. Finra shall make public the outstanding unused loaned share by end of settlement day of a trading week. Rule 5. All threshold securities regulation shall be reported daily with full accounting of fail to deliver end by end of settlement day. Rule 6.
Nothing has ever been fixed by a slap on the wrist. Nothing will change. All of these comments will amount to nothing. The media is manipulated. The market maker and hedge fund are one in the same. The payment of order flow is anything but fair. Brokerages like Robinhood are in the pockets of citadel quite literally. $10,000 was stolen from me because I chose to take a stand against corruption. The term fair market is laughable. But it's hard to laugh when you lose almost all your savings to a corrupt corporation.
As a retail investor i’m strongly in favour if these changes to the gathering and publishing of data regarding short positions and the regulation of options based synthetic-share creation. These rules are a strong step forward in protecting the interests of everyday shareholders, those who invest the most, and have the most to lose when abuse, corruption, malfeasance, or negligence are allowed to run rampant across markets. Free markets require transparency, visibility, trust, and value.
Rule 1. All short sale shall be reported to finra by end of each settlement day. Rule 2. Finra shall make public report the day to day short sale by end of settlement day or the trading week. Rule 3. All unused loaned shares shall be reported to finra by end of settlement day. Rule 4. Finra shall make public the outstanding unused loaned share by end of settlement day of a trading week. Rule 5. All threshold securities sho regulation shall be reported daily with full accounting of fail to deliver end by end of settlement day. Rule 6.
The technology is available for T+0, we are fighting with companies who have the whole picture, yet we retail investors have to wait two days. We need more transparency, along with detailed rule enforcement, but overall we need more transparency, the retail investor knows that the tables are tilted towards the large institution. It is an unfair advantage.
Short positions should be made pubic knowledge as quickly as hedge funds can see retail investors order flow. We want transparency and accountability.
I request the following to be taken into consideration for addition to the proposed rule change: - Short positions held by market makers should require enhanced reporting. In addition, anytime an options contract is opened by a MM well below market value for the stock, the time of trade and involved party should be reported. - Incorporate ETF short interest in reporting requirements. - Require firms to maintain securities lending records for 10 years. - Fines for naked short selling should equal the profit of the cumulative short position with a portion payable to the victimized Company.