January 24, 2022
We need more transparency in our markets. We deserve to know how our positions are being used and who is profiting and to what extent. Fiduciary duties and reporting by IRA custodians should be included in this. If my shares are lent out, I want to know how many are lent, who they are lent to, how many times my shares are rehypothecated, and how much the lender of my shares is netting. In 2022, this information should not be complicated to provide. If it is too complicated to provide, then we have a broken system and the SEC has failed at their main directive. Full Stop. As a retail investor, I am appalled by the conditions of our markets and the failure of the SEC to properly enforce. Punishments of fines for less than the net proceeds of the crime are considered the \"cost of doing business\". If something is profitable, why would you not continue to do it? Especially if the repercussions still leave you with 95% of the profit. Why doesn't the SEC impose fines for GREATER amounts than are netted on the illegal behavior, adding penalties like the IRS when the average person makes a mistake on their taxes? The SEC is a bad comedy joke and Americans are done standing on the sidelines watching the wealthy rob us of our futures. DO YOUR JOBS