Joseph Bumstead Comment On Regulatory Notice 21-19
Joseph Bumstead
N/A
We need much stronger regulation, this could be a step in the right direction. Here are some suggestions for that regulation: - Make the time to deliver a share to its buyer legally 3 days. That's right, 3, give them a bit of leeway. - Remove all the extra extensions. Instead, we allow them to roll for another 3 days. They _must_ do this indefinitely, until they locate and deliver the stock. - Each time they roll over, they pay the original purchaser of the share n*x dollars, where n is the number of times they rolled over on this transaction, and x is the price paid or the current market price, whichever is higher.
Joseph Bumstead Comment On Regulatory Notice 21-19
We need much stronger regulation, this could be a step in the right direction. Here are some suggestions for that regulation: - Make the time to deliver a share to its buyer legally 3 days. That's right, 3, give them a bit of leeway. - Remove all the extra extensions. Instead, we allow them to roll for another 3 days. They _must_ do this indefinitely, until they locate and deliver the stock. - Each time they roll over, they pay the original purchaser of the share n*x dollars, where n is the number of times they rolled over on this transaction, and x is the price paid or the current market price, whichever is higher.