Failure of a Participant or person associated with a Participant to comply with any of the rules or requirements of the System may be considered conduct inconsistent with high standards of commercial honor and just and equitable principles of trade, in violation of Rule 2010.
Renumbered from Rule 7270C by SR-FINRA-2008-066 eff. Jan. 1, 2009.
Amended by SR-FINRA-2008-057 eff. Dec. 15, 2008
WASHINGTON—FINRA’s Board of Governors met on February 25-26. The agenda included electing a new Board Chair, as well as discussions on FINRA’s proposed Outside Business Activities rule, TRACE reporting timeframes, ongoing technology initiatives, and the proposed allocation of FINRA’s 2024 fine monies.
Remarks by Executive Vice President Thomas M. Selman at the IRI Government, Legal and Regulatory Conference
To Whom it May Concern: I believe institutions such as Citadel and Melvin need to stop manipulating the market by illegal tactics. Strict enforcement needs to take place when these companies violate the rules regarding synthetic shares and FTD's. Fines of 10k are merely a slap on the wrist for these companies. The amount of money that these companies have would be like a 1 cent fine in ratio
Having been a retail investor for over two decades, I only recently discovered the extent of market manipulation really going on behind the scenes. I applaud your organization's proposed changes. Specifically I believe the markets would benefit from public dissemination, in real time, the short positions, dark pool flow, and FTD's. I personally would go further, requiring a responsible
Yes, short interest should be reported daily or at least weekly and in real time. Not you report today what interest was two weeks ago. Also why take a firms word for it what their short interest is. It should not be self reporting. Should be a system in place to confirm what they are reporting is true. Then finally, the most important thing. MAKE HEDGE FUNDS ACTUALLY REPAY THE SHARES THEY BORROW
The current price manipulation with AMC/GME et al has exposed the stock market corruption. All reporting agencies and SEC rules don’t make a difference in protecting the big money from the everyday average trader. It seems to me that the rules only apply to the small investor and protect big money instead. It’s all an incestuous relationship between the SEC, FINRA, DTCC and the like and the big
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I think these rules need to apply the short sale reporting. The current system is rigged and Hedge Fund is taking advantage of it greatly. Rule 1. All short sale shall be reported to finra by end of each settlement day. Rule 2. Finra shall make public report the day to day short sale by end of settlement day or the trading week. Rule 3. All unused loaned shares shall be reported to finra by end
How can the hedge funds/MMs continue to illegally push the share price down using fake shares in dark pools outside the eye of the public and then kick the interest can it costs to do that down the road indefinately? Retail investors are getting screwed over by hedge funds at every turn and SEC is allowing the illegal manipulation to happen. What good is interest if it never gets paid? The US
