May 9, 2009
I am in absolute agreement with this proposal, and have said so for several years. Whether a shareholder, institutional buyer, or hedge fund is short or long on a stock, they affect the price. It's a clear double standard, and one that needs to be addressed by requiring registration and full disclosure on short positions as well as long positions. There should also be provisions to address the issue of multiple hedge funds or trading accounts controlled by a single entity or person. If a person owns 100 offshore-based hedge funds and holds a short position in a company's stock in every hedge fund, those positions should be combined when enforcing any future disclosure or registration rules pertaining to short selling. It is past time to clean up our financial markets, and more importantly, to rewrite the regulations and enforcement policies so that our markets will be more fair moving forward.
Mark Faulk
www.faulkingtruth.com
On Sat, May 9, 2009 at 9:55 AM, ivory cmkm wrote:
Whenever the shareholder owns more than 5% of a class of the company's securities, he or she must file a report of the transaction the SEC and this information can be available to public. However, when the shareholder shorts more than 5% of a class of the company's securities, he or she does not have to report anything to the SEC and the public has knowledge about this information at all, which we retail investors want this 13D rule to be modified to mirror both sides. Hope the system will carefully review on this issue and also pass the uptick rule to avoid massive short and naked short selling when a company has a bad news. We saw hundreds stocks went down more than 90% of their 52-week highs because of massive short selling and naked short selling. Naked Short Sellers are very Cruel and they should be tracked down and face RICO charges.
God Bless Wall Street and America!
Ivory Lee