FINRA 21-19 is a regulatory change we must incorporate and enforce in our markets. It is clear to me as a retail investor that the integrity of the US market has been strained, and personally I have lost almost all faith in it. This sentiment stems from the regulatory and enforcement failure in large part due to systemic risk developed under the regulatory authority of FINRA's outdated short interest reporting policy. It is critical for the restoration of the confidence in the US market and the investors within it that any regulation changes regarding short interest reporting be effective in every known circumstance where effective short positions, synthetic or not, can go unaccounted for for any length of time greater than any other short position reporting deadline. Furthermore, the cost of operations necessary for applicable market members to accommodate these standards cannot be reasonably compared to the cost of a compromised market with systemic risk or the loss of investor confidence and participation in the US market.
George Castro Comment On Regulatory Notice 21-19
FINRA 21-19 is a regulatory change we must incorporate and enforce in our markets. It is clear to me as a retail investor that the integrity of the US market has been strained, and personally I have lost almost all faith in it. This sentiment stems from the regulatory and enforcement failure in large part due to systemic risk developed under the regulatory authority of FINRA's outdated short interest reporting policy. It is critical for the restoration of the confidence in the US market and the investors within it that any regulation changes regarding short interest reporting be effective in every known circumstance where effective short positions, synthetic or not, can go unaccounted for for any length of time greater than any other short position reporting deadline. Furthermore, the cost of operations necessary for applicable market members to accommodate these standards cannot be reasonably compared to the cost of a compromised market with systemic risk or the loss of investor confidence and participation in the US market.