Oct. 30, 2022
Securities and Exchange Commission, I'm writing this letter in comment in regards to reporting rule proposal 13f-2. The need for more transparency is needed in the complex matrix that is the US stock exchange and markets. Currently, some of the most abusive practices that occur are a direct result to naked shorting, failures to deliver, and failures to receive. In order to best create a simple and transparent market, more transparency is required. Currently, the flow of information on short exposure is largely unregulated and the data delivery is incredibly slow in a world where information can quickly change the course of action. At a minimum, short data reporting should occur once a day, and be mandatory. There is no reason why this information should be delayed every two weeks. There is no reason why every investor can't have access to this information if it already exists so readily. Of course, large banks, hedge funds, and financial institutions will insist that the current system works fine as it is. It only works fine for them as it directly benefits them to keep the current system in place. Its beneficial to them that other people cannot access this information, or if they do, it would be delayed by a significant period of time. Retail investors are wisening up to the holes in the stock market, and we are aware of the corruption, manipulation, and complicity that occurs every day. We will not stand idly by and watch our markets further benefit the rich elite. We need a transparent and fair system, otherwise the rich will continue to get richer and the poor will continue to struggle to survive. Thank you for allowing an extension on these comments, and letting investors' voices such as myself to be heard. Sincerely, Richard Pasquali DDS