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Tom Berwick Comment On Regulatory Notice 21-19

Tom Berwick
Retired

I am sick & tired of large hedge funds such as Citadel performing coordinated ladder attacks against GME & AMC, as well as others. Those two charts frequently pattern in lock step with each other. Investors know, as I assume FINRA & SEC does as well, that naked shorting is taking place on a grand scale. To make matters worse, the bulk of the short sales, particularly on those two stocks, get run thru on "lit" exchanges while buy order are routed to dark pools. Shorts are also hidden using married options to create synthetic shares. How is this practice legal or ethical. Make these funds report their short positions every day if that's what it takes to clean up these practices. When did it become legal for the dark pools to receive the bulk of orders? There is no way for the retail client to ever "know" the true bid or ask of publicly traded stocks with that practice. Fines don't matter to the hedge funds. Removal from the exchanges might get their attention, however. FINRA, how about leveling the [REDACTED] playing field?