To whom it may concern: I would like to know if there are plans to repair the fines in regards to short interest reporting, naked shorts and dark pool trading? I think that naked shorts should be fined based on the quantity of fake shares multiplied by the price of the share in question. So for 5 million fake shares at say $25 per share would result in a $125 million fine. This is a fair way, since you are penalizing the guilty party by making them pay the cost of each fake share that was created. Fake shares manipulate stock prices and prevent a free market system from functioning properly. Short interest reporting should be done daily and failure to do so is a compounding fine. Say you fail to report short interest once, that’s $15,000. Do it again and it’s $30,000, with the next infraction 5 times the last, then 10 times etc. Once the year has been completed, depending on the amount of infractions, you start at you highest fine for the first fine in the new calendar year. The goal is for this to NEVER happen, not punish you if you do. It has to be serious. Retail investors are in the dark, manipulated and out of the inner circle of the Manipulated Market System. Dark pool trading should be a hefty fine of at least half the guilty parties total security holdings equity PLUS imprisonment for say 5 years. Their license to work in the investment field removed for LIFE. I read your website and you preach a fair market for traders. So please, make it a fair market for ALL traders. Thank you for your time and have a nice day. Kind regards, Cortney
Cortney Comment On Regulatory Notice 21-19
To whom it may concern: I would like to know if there are plans to repair the fines in regards to short interest reporting, naked shorts and dark pool trading? I think that naked shorts should be fined based on the quantity of fake shares multiplied by the price of the share in question. So for 5 million fake shares at say $25 per share would result in a $125 million fine. This is a fair way, since you are penalizing the guilty party by making them pay the cost of each fake share that was created. Fake shares manipulate stock prices and prevent a free market system from functioning properly. Short interest reporting should be done daily and failure to do so is a compounding fine. Say you fail to report short interest once, that’s $15,000. Do it again and it’s $30,000, with the next infraction 5 times the last, then 10 times etc. Once the year has been completed, depending on the amount of infractions, you start at you highest fine for the first fine in the new calendar year. The goal is for this to NEVER happen, not punish you if you do. It has to be serious. Retail investors are in the dark, manipulated and out of the inner circle of the Manipulated Market System. Dark pool trading should be a hefty fine of at least half the guilty parties total security holdings equity PLUS imprisonment for say 5 years. Their license to work in the investment field removed for LIFE. I read your website and you preach a fair market for traders. So please, make it a fair market for ALL traders. Thank you for your time and have a nice day. Kind regards, Cortney