Nathan Schmitz Comment On Regulatory Notice 21-19
Thank you for considering these changes and taking an interest in retail investor opinions about them. I will keep it brief. First, it is no secret that stock shorting has become a practice that works in a way that is predatory to American businesses. Second, with decades of deregulation within financial markets the people who do engage in the more predatory forms of shorting have used antiquated reporting regulations to hide nefarious and possibly illegal trading practices. I think you folks are absolutely right to demand better reporting. Daily reporting. You are aware of how absurd and antiquated the current reporting is, or you wouldn't be discussing this to begin with. I will say, I believe all reporting should be disseminated publicly though. All of it. If the actions of market participants handling securities can have a direct impact on the success, failure, and health of public companies they should have some oversight. If what they are doing is appropriate and lawful, they should have no fear of honest and open reporting. It's that simple. I can guarantee that you will be given major pushback and excuses for why daily reporting is not feasible and too costly to implement. I encourage you to see these excuses for what they really are: resistance to change, the continuation of the status quo, and a lack of integrity. Thanks for your time and efforts to creating a more fair, open, and transparent market.