Aug. 16, 2022
August 16, 2022 I support transaction-by-transaction reporting so bad actors can't hide within the aggregate. Aggregates are not transparent and transparency means fairer markets for all including retail. The 15 minute reporting requirement is fair. The cost and effort are needed to make it harder to commit fraud and prevent the abuse of loopholes. Companies that are being actively shorted need this information to better manage their stock and company's wellbeing. When a few are able to short companies in the dark, it hurts true price discovery and competition. Being able to cellar box a company and put U.S. citizens out of work without being accountable is a disgrace. Retail investors will have better information to make more informed decisions for their investments. As long as funds can short in the dark, retail will be unaware of the potential dangers associated with their investments. There are millions of retail investors who would be monitoring this information to protect their investment and report any fraud. This would strengthen the SEC and help protect the U.S. economy. Long, untracked lending chains can lead to a systemic risk that could cause an unnecessary recession harming innocent Americans. The goals of the SEC is to protect investors, facilitate capital formation, and maintain fair, orderly, and efficient markets. Transparent shorting activity will help achieve these goals. This will enable true price discovery and strengthen the U.S. markets and economy which benefit everyone in this great nation.