Phil S Scott Jr Comment On Regulatory Notice 21-19
Good day, In response to your request, I know a small part of the issue is the shorting problem of stocks. While I support more immediate reporting requirements the issue is naked shorting as well as mislabeling the short as Long's, using the dark market to manipulate the pricing of stocks, Synthetic shares being created for price manipulation, and other shorting issues being used by market makers and hedge funds for instance citadel and virtue. They take the opportunity to manipulate market prices and destroy the market integrity, also the fines that are placed upon these market makers and hedge funds it is not enough to deter their habits. There are market makers and hedge funds who have been fined for illegal shorting practices and FTD's for years upon years for their own benefit that is almost a sense of treason as far as the market is concerned. This was supposed to be corrected after the market crash of 2008, but they continue to find ways and loopholes to get through to what they want to do. It seems as if the market is rigged into their favor, now as we (retail investors) are becoming more and more educated on the stock market were started to pull back the onion per say and seeing exactly what the market makers, hedge funds, banks, and others are doing to rig the market into their. It just seems as though we have no backing/oversite to enforce the rules and regulations that were set aside to protect and investors and create a fair marketplace. So, since I’m limited in what I can do as a small investor I will continue to buy and hold my over shorted shares until the SEC or FINRA takes legal actions to stop what these hedge funds and market makers are doing to manipulate the system in their favor. I am asking for transparency to the markets, steeper fines, and fairness for all investors. Thank you.