Subject: S7-18-21: WebForm Comments from Jake Valinotti
From: Jake Valinotti
Affiliation:

Oct. 30, 2022

 


 October 30, 2022

 Greater transparency in the reporting of securities loans is imperative for the ongoing health of the market. The long-term effects of the scales being tipped further and further away from retail investors will not be evident until is already too late to avoid them - decades down the line, middle class people's expectations of meaningful returns on their investments may very well dip below a point where market investment remains a viable and rational decision. Even now, small-time retail investors are unknowingly hurting their investment capability and future finances simply by having their shares held by proxy in an entity that may profit from those investors' economic loss - in that these entities stand to benefit by loaning the investors' securities to third parties that seek to drive the value of the security down. Making this information public (and perhaps even requiring these entities to make the information visible on their websites), will - rather than lead to some sort of
 mass retail market awareness, I'm under no illusions about the opposed forces of ignorance and delusion that permeate retail market sentiment right now - at the very least reduce the incentive for holding entities to try and profit from their customers' losses. Please take this into serious consideration as you read the aforementioned entities' arguments against market transparency.