Nov. 10, 2022
November 10, 2022 The key to an orderly market is the integrity of its participants, the buyers, sellers, brokers, companies that issue stock, banks, exchanges and regulatory agencies. Each has a responsibility to be truthful, lawful and ethical in the role they play to protect the underlying - the stock that is traded. However, when banks let certain institutions trade stocks in special accounts which hides their transactions and provide avenues for shorting non- existent stock with unsettled money, the trust of mutual integrity is broken. Such collusion will only make things worse as the same practice expands to other market participants. Thus hurting the very instrument that created the whole conglomerate of participants to even exist. As a regulatory body, it is the duty of SEC to abhor such tricks, strategems and secretive deeds and nip them in the bud. I commend SEC for this rule and hope that the much needed swift action to find and demolish any and every attempt that hurts the underlying it exists to protect.