Mar. 3, 2023
March 3, 2023 First off, I support transparency and frequent reporting of all necessary information. In the SEC GameStop Report on pg.29, the SEC repeatedly has to admit that it is difficult to trace or prove activities like illegal naked short selling (short of a brave whistleblower like Tobin Mulshine featured in Gaming Wall Street providing the regulator with information, or a special audit discovering the rule breach), due to the lack of reporting requirements and therefore regulatory oversight. This kind of opaque nature of the business allows ill-intended behavior to go undetected and threaten the publics trust in a fair and free market. 10c-1 is the best current step towards ensuring that trust can be restored. Last, the biggest brokers and best-capitalized banks currently have outsized insights in market data around securities lending, barring competition and discouraging new market entrants.