February 7, 2022
If the penalty for breaking a law is a fraction of the profits made while breaking the law - Then it simply becomes a cost of doing business.
The SEC needs to grow some teeth and it needs to start biting into these abusers who are taking advantage of their positions and whose unchecked power over financial markets have ruined industries and also ruined the trust in the American free-market.
The SEC and the DOJ need to take a long, hard look at naked-shorting and realize that naked-shorting and counterfeit cash are one and the same and should be treated as such.
The best way to fight these practices are clear, bright lines of transparency and openness but also fierce and instant punishment for those who transgress these lines.
To start, make the fines a percentage ABOVE what was gained and then start tacking on jail-time for offenders.