Mar. 29, 2023
March 29, 2023 Under the proposed amendments, the Commission would rescind Form 19b-4(e) and instead require that the information regarding the listing and trading of new derivative securities products be posted publicaly on the relevant SROs website. The proposed amendments would also remove the manual signature requirements for Form 19b-4, which already requires an electronic signature. I suggest that the rules of posting new derivative security products publicly be made more stringent, transparent and reliable. There are loopholes, one example is when hedge funds, short sellers, etc. transfer short positions out of the country they don't have to report them, therefore making the information now reported unreliable. There could be more examples that I'm not aware of, so I believe there must be reliable data posted, for market transparency. CEO's are starting to wonder what data is real, and often complain that they have a full time job fighting illegal derivative activity. If the data was correct and penalties (not small fines) deterred reporting of fake data the market would be fairer.