April 20, 2022
The proposed changes to, as I understand them, allow for those parties (always seemingly banks/hedge funds) that have incorrectly predicted the success or failing of an American company, to simply remove themselves of risk until a later date, repeatedly, until buying the stock at a price that suits them, is something that completely flies in the face of whatever semblence of the 'free' market we currently have.
The amount of advantages that hedge funds, banks and any other multi billion dollar financial organisations or institutions have engineered have tipped the scales enough.
If any changes were to be made, they ought to be in the interest of rebalancing the scales of the market, not further weighting of them in the favour of the ultra wealthy. It is abhorrent to think these changes have even been drafted and out forward.
In addition, documents such as these, that have huge consequences on the processes of a market in which retail investors trade ought to, at the very least, have a summary/overview section. Few of us have the time or money to pay someone to read and analyse all of these rules, let alone decipher all the terms that seem to be designed to obfuscate the intent of such proposals. The combination of jargon and huge walls of text only serve to create another obstacle for retail, as hedge funds have professionals on retainer that can analyse all of this, find the appropriate loophole for them to jump through and leave the rest of us to wonder what happened. It is class warfare, as plainly as it has ever been seen.
Stop trying to pass these rules in favour of those who are rich beyond any fathomable measure, they do not need your help.
In the event that this proposal gets withdrawn, I'm fully expecting, though hopeful not to be, back here next year writing similar words for a similar egregious rule change.