Aug. 16, 2022
August 16, 2022
I explicitly support transaction by transaction reporting because it removes ability for institutions to abuse the aggregate to hide activities.
I explicitly support the 15 minute reporting requirement as it is a valuable tool to prevent fraud and ability to hide using financial loopholes.
I support S7-18-21 as companies need stronger methods to defend themselves around predatory practices such as short selling in opaque environments. Such practices harms ability for true competition and price discovery. Having an exclusive, small group of short-selling funds is borderline preposterous and damages unsuspecting companies.
As a retail investor, I will benefit from increased transparency with virtually no negative impact on all parties. Increased transparency means we have clearer view of risk level of our decisions. If funds can short in the dark / behind closed doors, retail investors will ultimately bare much of the risk when purchasing securities.
The public can serve as first line watchdogs in monitoring short selling data for securities fraud, and thus serve as a complementary entity to the SEC's ability to fulfill its own mandate at virtually no cost.
Lastly, there is significant danger to long, untracked lending chains the can lead to national economic damage.