April 20, 2022
This would destroy any last shred of faith that retail still has any semblance of being able to participate in trading.
If this passes, market makers, short sellers, prime brokers etc to continue with their already illegal trading. Creating synthetic shares out of thin air. Naked short selling. Ftds after ftds. Essentially laundering their massive naked short positions.
The proposal is not in the interest of retail but rather further strengthens the positions of hedgefunds, market makers, short sellers, prime brokers etc.
This does not offer any transparency in the market, in fact it would allow criminality to be further obfuscated making it even more stacked against retail.