Subject: File No. S7-08-22
From: Emily, Retail
Affiliation: Scientific Researcher

March 15, 2022

My comment is short one form the perspective of a retail investor.

I am under the impression that current regulations for reporting of short positions and activity contribute to non-transparent and therefore unfair markets.
Whereas correct and complete information is paramount for both institutions and retail investors to make a well-balanced decision for investment of their money, incomplete and incorrect information puts investors at a major disadvantage.

Transparency is needed for a fair market for all participants. Mandatory reporting of full-positions and greater consequences for violating those regulations can help make that possible.
Moreover, possibilities for unfair trading by institutions should be minimized, for example by banning PFOF and implementing T+0 settlement among other.

Thanks for reading