Oct. 10, 2022
October 10, 2022
I strongly support S7-18-21 for the following reasons:
Transaction-by-transaction reporting eliminates the ability to \"hide within the aggregate.\" Transparency means transparency and aggregates are not transparent.
The 15-minute reporting requirement is severely needed in today's fast pace markets and there is a drastic lag with current reporting. The cost and effort are justified to prevent fraud and loopholes.
Victimized companies need a greater ability to defend themselves against predators, and \"short selling in the dark\" harms true competition and price discovery. The idea that a small number of short-selling funds \"know best and can hammer unsuspecting companies in the dark is shameful.
Retail investors will benefit from increased transparency. Investing has an inherent risk and a large part of the risk comes from targeted short selling. This will provide a clearer picture of who is targeting who and provides retail investors with a small amount of the same data institutional investors have. A free and fair market should have allowed this insight ages ago. If funds are allowed to short in the dark, retail investors remain dangerously unaware of the risks they take on when purchasing securities.
The public will serve as first-line watchdogs in monitoring short selling data for securities fraud, which strengthens the SEC to fulfill its mandate, at no cost. Yes, we know how to find all this information.
Long, untracked lending chains can lead to economic fragility. Securities lending activity can hide massively destructive chains of obligation that can even be a threat to national security. More transparency is so critical and is more important than it has ever been. We need a fair market now Its time to make a change so we do not fall into a financial breakdown Save our Country and the economy