Hi, Market manipulation from abuse of dark pools and naked short selling (AKA creating counterfeit shares) is destroying the integrity of the stock market. Why are these things continuing to be allowed after decades? Transparency and accuracy need to be enforced instead of small slaps on the wrist for violations. We cannot trust the listed price of a stock if we don't know if there are millions of naked short shares flooding the supply. And on top of that, market makers/hedge funds can send all buy orders through their dark pools and only send sell orders to lit exchanges. This allows them to suppress and bring the price down of any stock as they see fit so they can profit off of short sales. This also manipulates investors into selling because they don't know why the stock is going down which makes it even more profitable. Citadel is an example of a hedge fund that has been naked short selling stocks for decades. As well as abusing dark pools and other market manipulating tactics. They have received countless fines for violating rules over the past decades. Why are they still allowed to operate when they continue to break the rules? Even China banned them from their markets for abusive naked short selling. We need transparency in the markets now more than ever. Until then, I am done with a stock market that allows anyone to create millions of counterfeit shares and sell them on the market as if they're real and manipulate the market in countless other ways. Thank you, Austin Dailey
Austin Dailey Comment On Regulatory Notice 21-19
Hi, Market manipulation from abuse of dark pools and naked short selling (AKA creating counterfeit shares) is destroying the integrity of the stock market. Why are these things continuing to be allowed after decades? Transparency and accuracy need to be enforced instead of small slaps on the wrist for violations. We cannot trust the listed price of a stock if we don't know if there are millions of naked short shares flooding the supply. And on top of that, market makers/hedge funds can send all buy orders through their dark pools and only send sell orders to lit exchanges. This allows them to suppress and bring the price down of any stock as they see fit so they can profit off of short sales. This also manipulates investors into selling because they don't know why the stock is going down which makes it even more profitable. Citadel is an example of a hedge fund that has been naked short selling stocks for decades. As well as abusing dark pools and other market manipulating tactics. They have received countless fines for violating rules over the past decades. Why are they still allowed to operate when they continue to break the rules? Even China banned them from their markets for abusive naked short selling. We need transparency in the markets now more than ever. Until then, I am done with a stock market that allows anyone to create millions of counterfeit shares and sell them on the market as if they're real and manipulate the market in countless other ways. Thank you, Austin Dailey