There needs to be actual punishments for abusive naked short selling, not just fines. Actual jail time please. A fine is the cost of business at least, and bribery on the part of the powers that be at worst. If not prison, then at least a fine that's worth something. Take a note out of Korea's book and take away every coin of profit from a naked short sale, if nothing else. As for short interest reporting, it needs to be handled by an external source, preferably. Short hedge funds will never report accurately if doing so would even remotely hurt their bottom line, and the financial penalties for lying are flimsy at best. The abusive short selling and weak legislation is an absolute ruin for the market, and the entire country's economy is threatened by the lying and the greed of those that clearly can't be trusted to report accurately. Close all loopholes, punish short abuse severely, and put in place a system that monitors financial companies with greater scrutiny. I know you have the technology by this point.
Anonymous-CI Comment On Regulatory Notice 21-19
There needs to be actual punishments for abusive naked short selling, not just fines. Actual jail time please. A fine is the cost of business at least, and bribery on the part of the powers that be at worst. If not prison, then at least a fine that's worth something. Take a note out of Korea's book and take away every coin of profit from a naked short sale, if nothing else. As for short interest reporting, it needs to be handled by an external source, preferably. Short hedge funds will never report accurately if doing so would even remotely hurt their bottom line, and the financial penalties for lying are flimsy at best. The abusive short selling and weak legislation is an absolute ruin for the market, and the entire country's economy is threatened by the lying and the greed of those that clearly can't be trusted to report accurately. Close all loopholes, punish short abuse severely, and put in place a system that monitors financial companies with greater scrutiny. I know you have the technology by this point.