Oct. 08, 2022
October 8, 2022
October 8th, 2022
Vanessa Countryman, Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-0609
Re: Reporting of Securities Loans (File No. S7-18-21)
Dear Secretary Countryman:
I am writing in strong support of rule 10c-1, Reporting of Securities Loans.
It is unfair, in my opinion, for retail to take risks in their investments when short selling doesnt need to be reported in real time. This is a problem for all investors who invest in delayed and often incomplete short sale information. I support the intraday 15 minute reporting requirement, as well as the Transaction By Transaction reporting.
This rule helps to protect all investors from abusive naked short selling, as we all witnessed with so called memestocks like Gamestop. This rule also helps individual retail investors act as an extra set of eyes through the entire market by monitoring many of the same things the SEC monitors to ensure a fair and safe marketplace for ALL. We, as retail investors, understand that the SEC is severely underfunded, and therefore cannot be everywhere at once. This is where honest market participants, such as myself, come in to help.
Many retail investors believe market makers and hedge funds have been abusing the rules you, the SEC, have laid out for all to obeyed by. This is why I'm a strong supporter of these new rules, and it may be the only way that I retain my faith in the market being a free and fair market for all.
Sincerely,
A Concerned Investor