The revelations of opacity around short selling, trade settlement, and unlit off-exchange trading is deeply troubling and an abomination to the ideals of free and transparent capital markets. The delay and self reporting of short interest, coupled with lack of meaningful deterrents like imprisonment or material fines (fining Robinhood $70 million for their role in the January Gamestop shenanigans
Short selling may be a necessary evil in the market, but anyone caught with a naked short position should immediately be forced to close their entire position. The absurd reality of selling something that doesn't exist is just that, ABSURD!
Request to ban naked short selling and to implement rules that curb it (e.g., T-0). Increase transparency of market makers. Follow in other countries' footsteps in bringing criminal charges and impactful fines ($1B+) against violaters.
The only way to have any hope of fixing any issue with shorts would be to change trading tech. There should be no reason it is not used on block chain, specifically ledger technology. The settlement of shares in seconds will no longer allow the manipulation and will likely eliminate naked shorting.
Want more frequent public reporting of short positions and more detail in public reports. Also want rule for brokers to mandatorily have no share lending by default with an option to opt in.
Please update the rules to more accurately report short interest and punish violators of misrepresented position. Clearly this should NOT be done through self-reporting (or at least without regular audits), as the institution have too much to gain by not reporting their positions. If an institution trader is allowed to directly attack a company and negatively effect the price through shorting,
Thank you for this opportunity to allow the people’s voices to be heard. With the intent to create more transparency within the market I submit the following rules to be implemented immediately: Rule 1. All short sales shall be reported to FINRA by end of each settlement day. Rule 2. FINRA shall make public report the day to day short sale by end of settlement day. Rule 3. All unused loaned
Short selling is harmful to price discovery. Just stop it.
