Apr. 09, 2021
I am very much in favor of SR-NSCC-2021-801 as a means to bring accountability for those who engage in the short selling and some much needed transparency to our markets. In my opinion this is long overdue and the previous regulations are dangerously vague and regularly ignored by offenders. In particular the practice of 'naked shorting' is a threat to our entire economy including our retirement accounts. I would like to see this rule passed and implemented immediately. Moreover, I would like to see some actual teeth with regard to the penalties levied for violating this rule. A 250k fine is laughable for a company that moves billions of dollars, it is merely the cost of them doing their evil business. No, there needs to be meaningful penalties beyond fines, like suspension of their ability to trade on the market for example. They are not going to get the message until you hit them where it hurts. Thank you for your time & consideration in this matter. Sincerely, Scott MacDonald