Skip to main content

Kevin Rockhill Comment On Regulatory Notice 21-19

Kevin Rockhill
Rockhill Lawn Care, LLC

For the markets to be a truly capitalist vehicle, all data available so some must be available to all. SEC Rules mean nothing to these large firms because the penalties are not severe enough to matter. The relatively small fines for violating the laws of the US and the rules of the SEC are simply the cost of doing business for these firms. It is public knowledge they budget these things into their operating expenses. That should tell us everything we need to know, if the fines are a line item in the budget, they know they are in violation and they know the SEC will not do much more than slap them on the wrist. How about requiring any firm found to violate the rules be forced to immediately liquidate all their positions and be suspended from trading for a long period of time. It is fruit from the poisonous tree after all. Stop the naked shorting, require T-0 settlements, track shares on loan so they can only be sold short 1 time until returned. If we can track down patient zero in a pandemic, we can certainly track a simple share of stock in real time.