Domestic and international retail investors are in dire need for a transparent and fair free market. Public scrutiny of market makers, investment firms and brokerages is at a tipping point where the average investor does not believe in a fair market. Individual investors are uncovering evidence of insider trading, price manipulation of securities sold in the NYSE and more importantly "Dark Pools". To restore trust in the American Stock Exchange; Market makers, investment firms and brokerages must be held to the highest standards. I urge FINRA to impose the strictest standards upon all investors, institutional or retail, for short interest positions, swaps and inspect the timeline from origin until close of short positions. Specific examples of lacking oversight of short interest positions in the markets include; allowing short interest reports bimonthly instead of daily. Allowing synthetic shares or shares acquired through loan financing agreements between domestic and foreign institutions can be used to temporarily disguise naked shorting. Under the current Rule 4560, bimonthly reports are provided to FINRA within a 2 business day period of the settlement date. This is far too lenient. Borrowing of shares from foreign institutions to temporarily cover positions that may change shortly after the FINRA reports have been made could be used to satisfy naked short positions. Thank you for your time and consideration. -An international Investor
Anonymous-KD Comment On Regulatory Notice 21-19
Domestic and international retail investors are in dire need for a transparent and fair free market. Public scrutiny of market makers, investment firms and brokerages is at a tipping point where the average investor does not believe in a fair market. Individual investors are uncovering evidence of insider trading, price manipulation of securities sold in the NYSE and more importantly "Dark Pools". To restore trust in the American Stock Exchange; Market makers, investment firms and brokerages must be held to the highest standards. I urge FINRA to impose the strictest standards upon all investors, institutional or retail, for short interest positions, swaps and inspect the timeline from origin until close of short positions. Specific examples of lacking oversight of short interest positions in the markets include; allowing short interest reports bimonthly instead of daily. Allowing synthetic shares or shares acquired through loan financing agreements between domestic and foreign institutions can be used to temporarily disguise naked shorting. Under the current Rule 4560, bimonthly reports are provided to FINRA within a 2 business day period of the settlement date. This is far too lenient. Borrowing of shares from foreign institutions to temporarily cover positions that may change shortly after the FINRA reports have been made could be used to satisfy naked short positions. Thank you for your time and consideration. -An international Investor