Oct. 30, 2022
October 30, 2022
Dear SEC,
I support the 15-minute reporting requirement. The cost and effort are justified to prevent fraud and prevent hiding in loopholes.
I support transaction-by-transaction reporting because it eliminates the ability to \"hide within the aggregate\". Aggregates are not transparent. Secret short selling could dissuade actual investment as funds attempt to glean profit off the backs of true investors.
Retail will benefit from increased transparency. We have a much better idea of the risks of our decisions and transactions if we can see who is targeted which companies. If funds are allowed to short in the dark, retail investors remain dangerously unaware of the risks they take on when purchasing securities.
Victimized companies need a greater ability to defend themselves against predators, and \"short selling in the dark\" harms true competition and price discovery. The idea that a small number of short-selling funds \"know best\" and can hammer unsuspecting companies in the dark is shameful. Secret short selling hurts individual investors in the name of greater profits for hedge funds. Is that what the public would want from its government? Timely detection of fraudulent and abusive activity comes before Wall Street profiteering.
I thank you for reading and look forward to more rules like this in the future to benefit all investors in our markets.
Sincerely,
A Concerned Investor