Oct. 08, 2022
October 8, 2022
October 8th, 2022
Vanessa Countryman, Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-0609
Re: Reporting of Securities Loans (File No. S7-18-21)
Dear Secretary Countryman:
I am writing in strong support of rule 10c-1, Reporting of Securities Loans.
I believe that transparency like this within in the stock market is deserved to all valued investors and would invite confidence within your markets, which Im hoping is something of a shared goal.It is difficult to believe that this type of comment solicitation is necessary given the state of our nation. We are in the early stages of what is likely to be another massive financial crisis, due to incredibly poor risk management. Who is behind the incredibly poor risk management? Well if that isn't the trillion dollar question..... If the SEC truly serves the citizens of this country rather than the billionaires on Wall Street, it would be crucially important to show positions that are inherently destabilizing to the well being of the countries security financial well being.
The ONLY reason to not disclose a short position is to avoid scrutiny. Theoretically short sellers expose fraud failing business' public scrutiny of those positions should enlighten all as to the nature of the shorted company cause a further price spiral.... So what about reporting of securities loan is scary?
Could it be that something nefarious is happening with short selling? That rather than actual price discovery, rampant price manipulation, dilution, cellar boxing is occurring? Could it be that the fines they are voluntarily paying for the YEARLY infractions such as misstating their positions marking short positions as long are the industry standard are the secret to success in the current economic reality?
I think we all really know the answer to this question. After all, why else would you need to hide your position unless you are actually ashamed of your actions it would be detrimental to show them? I know better than to expect anything to come from these comments as we have seen these same offenders literally turn off the buy button force PCO options for retail, the net result of those actions? A condescending video about meme stock investors who have shined the light on the systemic fraud, showing retail investors that the SEC is in fact filled with those who are hoping to work for the same people they oversee not at all concerned with it's primary mandate of preventing market manipulation.
To deny us that such transparency by rejecting rule 10c-1, Reporting of Securities Loans would suggest to me, an investor, a hidden agenda or ill-intention to keep truth hidden, of which would then present the question as to why.
The Commissions priority is the protection of investors.
Sincerely,
A Concerned Retail investor