Oct. 08, 2022
October 8, 2022
I support this proposal to increase requirements around the reporting of short sales in the market. The SEC has stated that their goal and \"strategic objective\" is to support working families. As an individual investor who has just started a family in the working class, I feel that this proposed ruling is a large step in the right direction.
Any requirements that increase transparency are essential for the long term health of the market, as the upcoming generations have so much potential for finding and using data to balance the power in the market and support the SEC in their role moving forward. I specifically like that this proposal would require reporting within 15 minutes, and would be required for every transaction instead of on an aggregate level after the fact. Short selling has been allowed to stay opaque for far too long with the technological advancements that have been made in the last few decades. That opacity doesn't seem to have any benefit for the honest investor, and if anything leans more toward the benefit of institutions as opposed to individuals. More transparency may be a costly endeavor, but it must be pursued if there's any hope of shining a light on the manipulative and predatory practices that currently hide in the shadows of the market.
I would like to thank you for the opportunity to submit my comments on S7-18-21 and reiterate that I fully support this proposal.
Best regards,
Zack D.