It is my opinion, as a new investor, that clarity of information be the most important aspect of regulation. Beyond tagging each individually purchased share, there is little to no way to keep track of shares that have been shorted, and the delivery process is convoluted. Without going into specific details, and instead focusing on the motive aspects of reporting and regulation, the want and
When Regulation NMS was adopted, the SEC and market observers did not recognize ex-clearing as a significant loophole. In the original crafting of Regulation SHO (implemented in 2005), the industry told the SEC that ex-cleared trades were "rare". As such ex-cleared trades were exempt from much of the short selling regulations. Dark pool trades (ATS and OTC) in 2021 now make up a
This is my first and most sincere comment to FINRA guidance and rulings Throughout my last few years of investing and last year of seriously understanding the markets -- there is no doubt in my mind that the framework of reporting and filling short positions on stocks is absolutely the most murky and shark infested water in the entire market. The reporting framework and the amount of loopholes
All short sale information should be available to all traders! ALL of it! Also, Dark Pools should be outlawed. Or at least, if blocks are bought on a dark pool, they should reflect the price on the retail charts. No more secrete crooked trading! OR, they should not be allowed to buy in a dark pool just to resell on the open market just to push a price down on a stock. Everything needs to start to
We need more transparency within the market. We need to see daily reports on a specific institution's short position regarding the amount of shares they have on loan, the amount of time those shares have been borrowed, the amount gained/loss due to a short position, and the amount of IOUs/tangible shares that are being traded. This is also including trades done within the dark pool, not just
In November 2000, the SEC adopted Exchange Act Rule 11Ac1-5. Rule 11Ac1-5 is aimed at improving public disclosure of order execution quality. Under Rule 11Ac1-5, the SEC requires market centers that trade national market system securities to make monthly electronic reports.
Finra 21-19 is crucial to the integrity of the US stock market. Transparency and equal access to data is essential. The current imbalance in reporting and reporting requirements is severely crippling. The unlimited risk of naked short selling should not be allowed in our country. Failure to deliver data and short interest should be reported daily. Monetary and legal recourse are the only way to
I am a "retail investor" who has been aware of naked shorting for over 10 years, being invested in Inovio Pharmaceuticals, one of the most shorted stocks in the market. The manipulation of the share price over the years has been criminal. As stated on your website, "FINRA is authorized by Congress to protect America’s investors by making sure the broker-dealer industry operates
This filing has been withdrawn.
NASD, through its subsidiary, The Nasdaq Stock Market, Inc. (“Nasdaq”), is filing with the Securities and Exchange Commission (“Commission”) a proposed rule change to exempt from NASD Rule 3350, the short sale rule, sales in Nasdaq National Market (“NNM”) securities reported to the Nasdaq Market Center trade reporting service comprising the “riskless” portion of a
NASD has filed with the SEC a proposed rule change to align certain supervisory control and inspection requirements in NASD Rules 3010 and 3012 with the supervisory control and inspection requirements in New York Stock Exchange ("NYSE") Rules 342.19 and 342(a)(b)/03. The SEC approved these rules on June 17, 2004. In addition, NASD is proposing several non-substantive technical
