Feb. 14, 2022
Dear SEC and Mr Gensler, Points for comments on S7-18-21 (SEC proposed Rule 10c-1). Real reform for securities lending must include: S7-18-21 (SEC proposed Rule 10c-1). Real reform for securities lending must include: (1) Notifying public about who is borrowing & lending shares (not just which company’s shares are borrowed or lent), (2) Notifying retail investors that their shares are being lent, (because (a) they don't get to vote & (b) they don't get tax-qualified dividends), (3) Sharing any revenue earned from lending their shares with retail investors, (4) Eliminate “Onward Lending” completely (public companies & transfer agents have opposed this for decades), (5) Require every loan to have a due date (not “if applicable”). Also Ban Dark Pools and PFOF. And stop charging fines which are pennies in contrast to the billions that are stolen through manipulating. We want prison sentences for offended and the loss of the license of the firms that perpetrators work for. This reform is not just for the credibility of the SEC but for the US stock exchange itself. The screw has turned and the world is now watching, retail has brought 'Dumb money' but also so much scrutiny and this can now no longer continue with the status quo. Best wishes I.