Stephanie Comment On Regulatory Notice 21-19
Hello FINRA, This is my comment for 21-19, regarding short positions. As I see it, the current US market is full of fraud which preys on the working classes, with our regulatory agencies being complicit. They are complicit through their inaction, with years of unchecked fraud, and market manipulation. It has been discovered that naked short selling by large hedge funds like Citadel and Susquehana has been allowed to happen with impunity. We now know the SEC and FINRA have known about this illegal counterfeiting practice for many years, with nothing being done to rectify the illegality of the market conditions. Naked shorting is illegal.- Conditions need to be met by regulatory agencies to ensure it doesn't happen, and to take appropriate measures when it has occurred. - Short positions need to be reported daily by funds and market makers, and public notice needs to be reported daily on a public website for that purpose, for all holdings and companies in the market. - Audits need to be put in place by regulatory agencies to ensure shorts and FTDs are not being hidden in options. - Punishments need to be severe enough to ensure it does not continue, and in a timely manner. - Large hedge funds and Market Makers are run by the same company. They need to be separated to eliminate conflict of interests. - High frequency low volume trades done in dark pools are being used to influence stock pricing. This market manipulation needs to be clamped down on, enforced, and punished with heavy fines and/or jail time. I am thankful you are asking for input, it shows that hopefully something may finally be done to combat the practice of naked short selling. I wish you luck in your future enforcement, and bringing trust back to the US Stock Market.