April 9, 2021
This will be a small step in the right direction in eliminating the counterfeiting of shares (i.e. naked shorts) on wall street. What would happen if an individual started making counterfeit money? The FBI would throw them in jail. How is counterfeiting a share of stock any different?
Companies (good, solid companies) have been destroyed, investments and jobs lost, and innovative products and services are aborted before being adopted the public----all due to the practice of counterfeiting shares.
The world is watching you, the SEC, to start upholding the mission of protecting the markets. Take this opportunity and start punishing this illegal practice.