Joe Itoh Comment On Regulatory Notice 21-19
This is far left field, but if you made a crypto that does proof of work of validating stock transactions, it could help keep the market regulated and you would have a crypto that scales with the market.
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This is far left field, but if you made a crypto that does proof of work of validating stock transactions, it could help keep the market regulated and you would have a crypto that scales with the market.
It is necessary that there be confirmation when positions are closed. It is currently way too easy for holders of short positions to kick the can and hope the company that is the focus of the short goes bankrupt. You need to start supporting the action of jailing those that are responsible. Fines are nothing but a cost of doing business and everyone knows it. People need to be held accountable.
In regards to more frequent reporting of Short Interest to weekly or Daily, I agree. Some of these rules feel in place from older times. But the technology has advanced so that all sorts of possibly nefarious things can take place within the current period. More frequent reporting just seems like a natural adaptation to how automated and speedy modern trades have become.
I am a "retail investor" who has been aware of naked shorting for over 10 years, being invested in Inovio Pharmaceuticals, one of the most shorted stocks in the market. The manipulation of the share price over the years has been criminal. As stated on your website, "FINRA is authorized by Congress to protect America’s investors by making sure the broker-dealer industry operates fairly and honestly." When are you going to start taking this mandate seriously and do your job?
I fully support all increases in what must be reported with regards to short positions, and the frequency in reporting. If regulators are truly worried about the gamification of the market then close the loopholes and increase transparency particularly around ‘naked’ shorts. Shorts are just tools but dangerous tools that are currently far too easy to abuse with malice intent.
Please investigate criminal activity such as naked shorting..... into any hedge funds that are illegally affecting a market of any given stock.
As a retail investor I believe that the provably widespread practice of naked shorting dilutes the share pool of companies that I believe in which artificially lowers stock prices. It is a method that predatory short hedge funds use to drive stock prices down, rather than allowing the market to engage in true price discovery. This causes companies which might otherwise be beneficial to society to shut down, illegally lowers my investment returns, and undermines my faith in the market.
I 100% support broader and more detailed reporting on short sales. This information would lead to a fairer market through transparency and allow all parties to better understand the marketplace.