Jan. 12, 2023
January 12, 2023
The market needs to change in favour of greater market transparency, greater accountability to market abusers, real fines equalling greater than the amount acquired for the theft and defrauding of investors, revoking of licenses, banning those who continually act in bad faith, prison sentences for violations of the law, and establishing the worlds greatest and premier marketplace to run efficiently and effectively by moving settlements to t+0.
Time to promote post-trade regulatory
fixes in US:
1) Fine$ + margin call$ for FTDs NO
waivers at NSC's whim
2) Mandatory Buy-In
3) If buy-in fails, raise offer$ until it
closes.
4) Suspend close accounts of brokers
who FTD 3x/month: SecExch Act
1934, 17A.a.5.(C)
Without real punishments, true monetary fines, revoking trading licenses/capabilities, forcing buy ins on failure to delivery(s), and prison sentences for market abusers there cannot, and will not be meaningful reform in market structure and its plumbing. The real consistency of lack of action deprives Americans of their wealth and its status as a world leader. Inaction will be recognised as hypocrisy and failure to protect its citizens, its market, their collective retirement and monetary wealth, and the nations welfare.
The trust the American people had after 2008 was rock bottom. This really is the last chance to restore any trust the American people have for their government, public servants, and the regulatory bodies that supposedly are in place to protect them from the criminals of Wall Street. The SEC was aware of Bernie Madoff, his criminal actions, and theft on a massive scale and did nothing to deter him in his plundering of the American economy. Any faith that is left will so be gone if there is nothing done. And I do use the word faith in truest sense as we have seen NOTHING be done to meaningfully deter these white collar criminals in their greedy efforts to destroy the foundations of the American economy.