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.
The short selling abilities of market makers as they stand today are a threat to our nation's financial stability. Unchecked, potentially illegal short selling burns down otherwise profitable companies just to fuel the fires of short-term profits.
Our system is too large for regulators to be in all places at once. I've heard the argument many times that short selling is healthy for the market because it allows price discovery. If true, than the reverse is also the case. Visibility of how trades are being handled allows investors to act and empower price discovery in the other direction a corrective force against an oversold investment.
Regulators cannot be in all places at all times. Let us help fill the gap. The 15 minute reporting requirement lets everyone act on behalf of illicitly suppressed market forces.
Sincerely,
Matthew Schularick
A Concerned Investor