Oct. 09, 2022
October 9, 2022
Dear Secretary Countryman:
I am writing in strong support of rule 10c-1, Reporting of Securities Loans.
I strongly believe that the 15-minute reporting requirement is crucial to our markets becoming safer, more transparent, and overall more beneficial to the public. Retail investors would have access to information that they currently do not have that would allow us to assess if our investments are safe or if there are large institutions making plays that could lead to volatility within the markets.
I believe that the lack of frequent reporting through our current system leaves open holes for hedge funds to tiptoe around the rules and play the markets to their advantage, which is detrimental to our market stability in the long run.
More frequent reporting CANNOT harm retail investors, but lack of reporting can. If you guys as a government agency are truly interested in protecting retail investors as you so frequently preach, I expect to see this proposal passed.
Sincerely, an Anonymous but concerned investor.