Oct. 15, 2022
Dear SEC regulators, The proposed rules regarding notification by large, powerful Investment Institutions meets only the minimum standards of the Dodd-Frank Act. The regularly accepted practice of naked short selling, trading in dark pools, impossibly inadequate penalties for FTD by Large Institutions has placed the everyday retail investor in an impossible position. These are not the only methods that allow for incredible riches to be gained by the powerful few at the cost of the average investor. Until the SEC decides to become an actual defender of the retail investor and writes regulations that include swift and intensely painful consequences (minimum jail time measured in YEARS, fines to the minimum of 110% of profits illegally gained) there will be no incentive for the aforementioned institutions to reform their behavior. To think that weeks should be allowed before short-selling positions need to be reported is laughable. Reporting of Short positions held by these highly sophisticated foundations should be REQUIRED and IMMEDIATELY made publicly available. The activities of large banks and hedge funds have a long and sordid history of capitalizing on technology and powerful associations to allow these practices to continue; along with the failure of any significant penalties that would deter them from this lucrative enterprise. There will be a day of reckoning. These illegal activities will result in a devastating financial implosion that will affect the world for years, if not decades. Thank you for your time, Terry Cosley Concerned Investor