February 18, 2022
While I agree that T+1 is better than T+2 settlement time for retail investors in theory- But this ONLY helps retail investors if it is enforced and includes a mandatory closure of FTDs and FTRs.
The rulings in place now allow for non-closure of trades through avoidance, shuffling a myriad of other loopholes for institutions to sidestep closing stock, ETFs , TRSs and virtually every financial instrument available to these institutions and investors.
To level the playing field we need at the minimum:
1. Ban short selling. Period
2. Ban PFOF
3. Ban Elected Government officials from participating in any trading during their service in office
4. Ban Dark Pool trading
5. Ban SROs and require 3rd party audits regularly and disclosures made available for public review.
6. Allow public listed companies to inform their shareholders of the benefits of DRS- to own shares in their own name and have voting rights instead of beneficial ownership -which stays in the name of their broker who can then loan their shares out to short sellers without the beneficial owners knowledge or consent.
Though I am in favor of T+1 as a start, I am more in favor of implementing T+0 through blockchain immediately.
We have the technology available now, and could provide a Fair Free Market for all.