The state of the United States financial markets is a disgrace in no small part due to egregious abuse of short selling. Skirting of the current rules and regulations is commonplace and the penalties of such behavior, even when caught, are laughable given the profitability of such behavior. Both the prevention of this criminal activity and bolstering of punishment for said activity must be addressed in order to have effective and orderly markets. Immediately implementation of public, transparent Blockchain technology will drastically increase accountablity in situations where shares need to be located before being loaned. Additionally, monetary fines should be AT BASE be equivalent to profits made in the course of abusing a regulation. In NO CASE should any person, company or financial entity still be allowed to profit after being found guilty of violating a regulation or offering no defense and accepting pushinment. It is my hope that FINRA regulators can begin to truly heal the massive damages financial institutions have done and continue to do to the American people.
Samuel Hudock Comment On Regulatory Notice 21-19
The state of the United States financial markets is a disgrace in no small part due to egregious abuse of short selling. Skirting of the current rules and regulations is commonplace and the penalties of such behavior, even when caught, are laughable given the profitability of such behavior. Both the prevention of this criminal activity and bolstering of punishment for said activity must be addressed in order to have effective and orderly markets. Immediately implementation of public, transparent Blockchain technology will drastically increase accountablity in situations where shares need to be located before being loaned. Additionally, monetary fines should be AT BASE be equivalent to profits made in the course of abusing a regulation. In NO CASE should any person, company or financial entity still be allowed to profit after being found guilty of violating a regulation or offering no defense and accepting pushinment. It is my hope that FINRA regulators can begin to truly heal the massive damages financial institutions have done and continue to do to the American people.