First, there is no rule that can be put in place where the repurcussions are fines. Fines are a cost of doing business. Period. The street always makes far more money illegally then they pay in fines. 150% minimum fines. Now, that said, self reporting is a joke. We have the systems and technology available to ensure trades are marked correctly, that they are delivered adequately, not
Predatory naked short selling is the bane of healthy markets in this age. The tricks these funds use to hide these positions are unacceptable and frankly just plain cheating. SI reports are basically useless as all a company need do is simply report false data and pay a measly fine. There are too many holes in this ship and it is quickly filling with water. FINRA is largely toothless to stop this
I think that naked short selling should be completely outlawed in every corner of Wall Street. However, considering that large financial groups have very large amounts of money and power in their favor, I don't think that is possible. What is possible is complete equality and transparency when it comes to disciplinary actions enforced. For example, the hedge fund Citadel Securities has been
-Enhanced Failure to Delivery, Failure to Settle, Market Buy Ins, Market Lock Ins and FINRA to Publicly report these in a timely manner in .csv format on their website. The only data currently available is "Failures to Deliver" which is only 1 of several metrics. Retail and others would greatly benefit from the transparency added by simply providing this additional information about
There isn’t ANY transparency within the market. Would like the same information as everyone else. Dark pools need to be monitored and used for their attended purpose of large transactions that are approved or rejected by a third party. SSR needs to be enforced much more strictly. FTDs need to be enforced without delay. Actual substantial fines for FTDs, naked short selling to discourage illegal
The idea that everyday people need to be "protected" from themselves with further regulation and restrictive safeguards pertaining to "complex investment products" is absolute nonsense and contradicts the very principals of a free and open marketplace. Real problems like naked short selling and big money manipulation goes completely unchecked, yet the magnifying glass is on
Addressed to Yvonne Huber & Racquel Russel. Thank you both for requesting comment on Short Interest Position Reporting. I find it hopeful and positive that FINRA has acknowledged a gap in their ability to oversee Short Interest and Fail-To-Deliver Positions. In order to protect American investors (many of whom rely on equity positions ins 401Ks and IRAs to have a hope of retirement) FINRA
Simply put, Short Sellers have for decades made the argument that disclosing their position makes them a target for Short Squeeze. However, they in many cases target legitimate companies with the sole purpose of attempting to "shake out" longs to make a profit. This is not the intended use or purpose of allowing short positions, which as I understand it is as a way to address fraudulent
As an investor in our countries “fair & free” stock market the suspicious activity surrounding a few stocks has made myself (and millions of other investors) quite skeptical on the integrity and fairness of the US stock market. The world is watching to see what happens as greedy hedge funds with billions of dollars tinker around with the market with shady (even illegal) tactics that could
Complete transparency! If a market maker like Citadel can process order flow and know in real time what moves I'm making, then it should go without question that I be able to see what positions they are taking, also in real time. It's an extreme conflict of interest that they are allowed to do both. These current timelines for reporting are an extreme disadvantage to retail investors.
