Oct. 10, 2022
October 10, 2022
Dear Secretary Countryman:
I am writing in strong support of rule 10c-1, Reporting of Securities Loans.
I think rule 10c-1 is a great idea. Increased transparency in our financial markets is necessary to ensure the markets thrive in the long-term. Personally, I think the many hedge funds, banks, and individual investors that benefit from the current environment - read, opaque report requirements and minimal to no oversight or enforcement - should be held to account. I think there should be consequences for people and entities who break the rules.
Furthermore, I write in strong opposition to the concerns raised against this rule that speak to undue burden, raised costs associated with short selling, and increased competition. Rule 10c-1 would force individuals and entities to be forthright with their positions and make their dealings honestly. Individuals and entities should be forced to commit some of their recent profits towards compliance with reporting requirements. I have zero sympathy for those who want to continue to bend and break the rules.
Sincerely,
A concerned investor