Oct. 13, 2022
October 13, 2022
To Whom It May Concern,
I would like to voice my resounding support for rule 10c-1, Reporting of Securities Loans.
Rule 10c-1, Securities Lending Transparency proposed transaction-by-transaction reporting of all securities lending activity, every 15 minutes.
Transparency of this type within in the stock market is deserved to all investors and would be a strong bid for confidence within the markets writ large.
To deny investors such transparency by rejecting rule 10c-1, Reporting of Securities Loans would be seem to cut against the spirit of the regulatory body in protecting the interests of all investors, big and small, of which would then present the question as to why.
Could this have in any part to do with recent news of the DTCC committing international securities fraud? It's come to my attention that the DTCC recently broke Securities and Commodities Fraud 18 U.S. Code Statute 1348 in the wrongful distribution of stock split-dividend as issued by GameStop. Here's a statement as provided by GameStop to clarify the nature of the request as was issued - https://news.gamestop.com/stock-split/?n, 05/08/22 - and yet the DTC told brokerages in the US, and internationally, to split the GME shares into four, rather than issue dividend shares as per the corporate action described in GameStop's 8-K filing.
I have evidence to show this action should have been performed under the DVSE ISO code, but wasn't, and also have evidence to show the DTC instruction also specified ISO-15022 code SPLF (Forward Split) rather than DVSE (Stock Dividend) which cannot be excused an US Imperial/Metric cause of mistake. I even have evidence that DTCC instructed the transaction partner of Trade Republic with the wrong function code.
Therefore, with such speculation as to the potential criminal and illegal ongoings within the US stock market, I am writing to you in strong support of rule 10c-1, Reporting of Securities Loans in the hope that the SEC will do all that they can to ensure that investors within these US markets remain fully informed, assured and confident with their investments as held within the NYSE. We need protection and we need it now.
After all, I see no good argument against more transparency and integrity within our financial markets, nor any good reason to oppose rule 10c-1, Reporting of Securities Loans.
Sincerely,
One of many investors watching with great interest