Oct. 08, 2022
October 8, 2022 Dear SEC, I am an inverted that engages in the US capital markets and write today to comment on the SEC's proposed rule S7-18-21 for Reporting of Securities Loans. I am a strong supporter of transaction by transaction reporting. It is clear that aggregated reporting is not transparent and provides far too much rope where fraud can be hidden in aggregates. Why should one individual or entity have to suffer a worse execution whilst another individual or entity benefits from a better execution, just because it is more convenient for certain institutions to report their short selling practices in the aggregate? It is wholly unfair and contrary to the requirement of best execution and so it should be a mandated requirement for transaction by transaction reporting. The proposed rule in its current form would highly benefit retail investors, pension funds and the like from the increased transparency. The rule would provide a better idea of the risks involved with the investment we're making, before it is made. When short selling practices occur in the dark and 'current' short sale information is provided long after a position has been entered into, retail investors and the like cannot be aware of the risks that they take on when buying securities. You can understand why this lack of information would represent a problem for all investors, who are expected to invest on incomplete and dated short sale information. I support the intraday 15 minute reporting requirement. The cost and effort involved with this is justified to help in early identification of abusive shorting practices, to reduce the ability of toxic market participants to hide behind loopholes and to attempt to prevent such fraud occuring in the capital markets. I think the topic of enforcement is something that your agency needs to address publicly, as looking through the proposed rules, I saw nothing discussing how the financial industry is planning on legitimately holding financial criminals accountable for their fraudulent, unethical, and illegal actions. There needs to be prison time. There needs to be actualized financial retribution based on percentage of wealth. There needs to be compensation and justice for the millions of Americans who have routinely been lied to and stolen from. History, through this public record, will show that these issues are being, and have been, brought up by the general public, and failure to comment on them openingly and publicly will only continue to weaken the resolve the American public has towards elected and regulatory officials ability, and willingness, to solve the real world issues that affect all of our lives. Please feel free to directly reach out for correspondence with me. Anything I expressed in this comment are my own personal beliefs, and I do not affiliate myself with any other organizations or groups. What has been going on is not okay. This country shouldnt need young retail investors, like myself, to tell the men and women who are overseeing and controlling our financial industries that they are acting like children, need to grow up, and that we need to solve these extremely serious issues today, not tomorrow.