Mar. 23, 2023
March 23, 2023
Time to promote post-trade regulatory
fixes in US:
1) Fine$ + margin call$ for FTDs NO
waivers at NSC's whiml
2) Mandatory Buy-In
3) If buy-in fails, raise offer$ until it
closes.
4) Suspend close accounts of brokers
who FTD 3x/month: SecExch Act
1934, 17A.a.5.(C)
How disappointing it is to hear that the SEC is proposing rules that they never enforce. Propose rule exemptions to those who wreak havoc upon the stock market and the economy at large. To give free passes to those who steal, rape, and plunder from peoples life savings.
I have virtually no faith that you will even consider doing the proper action. That would require integrity. That would require an actual desire to be a good person. To be able to hold those responsible accountable. And if 2008 serves as a reference, the SEC is fully complicit in their knowledge and lack of action or enforcement.
Furthermore, you take the exact opposite position. Juxtaposed to protecting the American economy from those who would steal from Americans on the grandest scale.
Without proper enforcement, without meaningful reform, and without those who are willing to do the heroic task of protecting our markets, Im afraid we are doomed to repeat 2008 on an apocalyptic scale. The SEC doesnt care. The DOJ doesnt care.
And instead of holding those responsible accountable, you grant them exemptions EXEMPTIONS from these rules that you wont enforce. You say everything takes time but you try to sneak through exemptions. EXEMPTIONS???
We will not give up our efforts. We will not release our shares from direct registration and we will not allow these companies off the hook or allow them to unwind their short positions at their convenience despite the SECs best efforts to cover for them.