Rob Arrick Comment On Regulatory Notice 21-19
1.) Daily Short interest Reporting 2.) Short interest ownership list of any institution. 3.) $1 Trillion fine for Naked Shorting.
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1.) Daily Short interest Reporting 2.) Short interest ownership list of any institution. 3.) $1 Trillion fine for Naked Shorting.
"FINRA is considering: (1) modifications to its short interest reporting requirements (Rule 4560); (2) a new rule to require that participants of a registered clearing agency report to FINRA information on allocations to correspondent firms of fail-to-deliver positions; and (3) other potential enhancements related to short sale activity.
I fully support this effort to improve short interest enhancements. When bad actors are allowed to create a synthetic share out of thin air through dishonesty and illegal activity, they pose the potential to put the entire financial system at risk. If "market makers" are allowed to break rules, including the creation of millions of fake shares, they are given the power to destroy companies, established an uneven playing field, and even destroy economies. Look at AMC and GME right now.
As a retail investor, it is very clear and evidenced through obvious stock price manipulation that the market as it is constructed today favors the hedge funds and market makers. Put simply, retail investors want a more transparent market for everyone. Some things that would help: 1. Accurate data reported in real time (short interest, FTD, etc…). Short positions should be reported and released to the public daily. 2. More legitimate regulations and impactful penalties on naked short selling.
Market manipulation has been there over decades. Traditional retailers is suffering more than anytime due to the leverage of capital that’s not based on equal ruling. On top, law enforcement agency has not been obligated with the assigned duty. When will an open and fair market/system be back?
Along with getting updated publicly accessible free short interest daily to level the playing field, hedge funds should have to file their short positions in 13Fs #AMC Naked shorting also needs to be identified and stopped and FTD's need to be purchased. Can't have all these "IOU's"
Stop allowing big entities to manipulate price through large positions
Please modify the rules to make short interest and FTD's more transparent, and the reporting of immediately.
I request that regulation and enforcement be equal for all stock market participants. It is frustrating to know how many advantages, privileges, and self oversight benefits are granted to institutional investors, market makers and clearance houses. The crimes are no longer speculation. There is public information on repeat offenders and habitual lawbreakers taking the stock market hostage to do their own bidding. Abuse of naked shorting or the lack of regulation behind it is removing all faith I hold for the market.
All short sale information should be available to all traders! ALL of it! Also, Dark Pools should be outlawed. Or at least, if blocks are bought on a dark pool, they should reflect the price on the retail charts. No more secrete crooked trading! OR, they should not be allowed to buy in a dark pool just to resell on the open market just to push a price down on a stock. Everything needs to start to be transparent! EVERYTHING! No more of this crooked, sneaky and Illegal stuff that goes on with these hedge funds!