Oct. 08, 2022
October 8, 2022
Complete and timely reporting of securities loans is a necessary change if the SEC wishes to regulate a fair and equitable market. The stock-holding general public is significantly harmed by the current state of the system, as are the companies that are traded on the current markets. Rampant, unchecked short selling is responsible for the destruction of countless companies, and these victimized companies have no way to defend themselves. It would be much harder for large hedge funds to successfully execute their go-to \"short and distort\" into \"cellar box\" plays if people could look up the ACTUAL, UP TO DATE short interest associated with any stocks being distorted through the media.
I fully support transaction by transaction reporting and the 15 minute reporting requirement, as any costs or effort associated with these changes are completely justified in the pursuit of a fair and balanced market. Why should hedge funds and bad actors enjoy loopholes at the public's expense? Short selling is not a necessary component of a healthy market, and short sellers do not provide anything of value to a market. Why is the system set up to protect them? Rampant, unchecked short selling is directly responsible for the destruction of a healthy market and actively prevents true price discovery, especially when they can hide these short positions in swaps. We saw what happened in the Jan 28 2021 squeeze where Apex demanded that multiple tickers be changed to position close only due to volatility. This volatility would never come about if it weren't for the long, untracked lending chains that haunt the market outside of the public's view. Please follow through with the proposed c
hanges and help the market regain balance through transparency. Thank you for your time.
- A retail investor