Christopher Thrasher Comment On Regulatory Notice 21-19
I believe it is critical that FINRA mandate daily reporting of short positions by all members, to include synthetic shares. It is clear that FINRA does not receive accurate updates from its members on the above and that it is having a profound negative effect upon the overall market. Retail perceives FINRA in a negative manner, an organization that does not enforce any of its rules and which permits large institutions to ignore rules to manipulate the markets. It is past time that FINRA begins to hold accountable the bad player institutions which are manipulating multiple stocks to the detriment of the companies, investors and perception of integrity in our markets. Reporting should be a daily occurence and the penalties for mis-reporting need to be set at such level that even the largest institutions cannot simply compute them as a "Cost of doing business" expense. Retail investors need enforcement by FINRA and the SEC, neither of which are occurring at any sort of appreciable level currently.