Oct. 18, 2022
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. Subject: Comment Letter for File Number S7-08-22 Short Position and Short Activity Reporting by Institutional Investment Managers Honorable SEC Commissioners & To Whom It May Concern, As a retired individual retail investor with a very low Social Security pension, I wish to implore that SEC adopt radical and positive changes to bring transparency to the US market, such as; Short selling should be reported daily, and the SEC should provide that info rather than going through a manipulated private party. Along with any additional prohibition against fraud and manipulation from hedge funds, corporations and those with the ability to influence prices will be welcomed and greatly appreciated by individual retail investors, so please pass this regulation. Currently, the markets as such, have devolved into a sophisticated legal scamming operation versus the fundamental principal for which the Markets were founded for; raising Capital for businesses. The objective of raising Capital for businesses was and still is, extremely important to the economic welfare of individuals, communities & the nation. Sadly, the creation of derivatives and in particular Short Selling has forged a path for business and personal financial destruction which only benefits a few entities. For me; Short Selling has become the get rich scheme for a selected few and doesn’t serve any positive benefit for any business, community or nation. Short selling has become more than just a functional balancing tactic within the markets you regulate, it has morphed into a criminal activity with regulation so loose that nefarious actors and especially influential market makers can bend trades and order flow to their will for the purpose of maximizing gains and limiting their losses. Once upon a time, the market was based on raising Capital; based on supply and demand and considered institutions of trust. Now, that couldn’t be further from the truth. As a modest individual investor I don’t have an opportunity to obtain in real time, factual information; neither thru the News Media or brokerage institutions; since most information/data have devolved into opinion pieces to further manipulate and benefit the nefarious actors. Therefore, I must solely rely on the data posted on Summary charts at brokerage firms; which are usually outdated & stale information regarding short selling. Personally, I would welcome daily Short selling reporting by the SEC rather than reporting from a manipulative private party. Likewise, I do believe that brokerage firms can continue to maintain Commission free trades without PFOF. I am disappointed and disgusted with how the US markets are currently run, and think your agency can do a lot more than what you have done. Thank you for your time.