Jan. 19, 2023
Subject: SEC Proposed Rules
Hello
You are looking for comments? Well, here ya go….
The way I see it, the current US market system is fraudulent, with (apparently) the regulatory agencies being complicit.
Those regulatory agencies are complicit through their complacency, with years of allowed and unchecked fraud and market manipulation through
naked short selling by large hedge funds like Citadel and Susquehana. Their actions are allowed to happen with impunity.
The SEC and FINRA have known about this illegal counterfeiting practice for several years (decades), with doing nothing to rectify the illegality of the market conditions.
Naked shorting is illegal.- Conditions need to be met by regulatory agencies to ensure it doesn't happen.
• Short positions need to be reported daily by funds and market makers, and public notice needs to be reported daily on a public website for that purpose,
for all holdings and companies in the market.
• Audits need to happen by regulatory agencies to ensure shorts and FTDs are not being hidden in options.
- Punishments need to be severe enough to ensure it doesn't continue, and in a timely manner.
• Large hedge funds and Market Makers are run by the same company.
They need to be broken up.
• High frequency low volume trades done in dark pools are being used to influence stock pricing.
This market manipulation needs to be clamped down on, enforced, and punished with heavy fines.
I am thankful you are asking for input, it shows that hopefully something may finally be done in the market to combat the practice of naked shorting.
Real price discovery is essential for the market to function properly. With naked short selling allowed, real price discovery is not possible.
We need to get back to the market being ‘real’, and not affected so heavily by all the ‘fakeness’ / fraud that is happening nw.
I wish you luck in your future enforcement.
Thank you,
Tom Lemm
Tom Lemm
Systems Engineer III
Airborne Systems - CA, US
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airborne-sys.com