Today on CNBC with @SaraEisen, @GaryGensler defended new rules for transparency of stock loan and short selling:
"Transparency helps our capital markets... lowers cost of capital... raises returns for investors."
Sara: Hedge funds say transparency is bad... discourages short selling.
GG: Congress mandated these rules... for everyday investors, remember the events around Gamestop (laughing in background) ... "no seriously... we have a lot of transparency on the long side, let's add the transparency on the short side."
He also pointed out that there is a lot of public support for new SEC rule proposals. Guess what - he's talking about you, about @WeTheInvestors_ and about all of the comment letters that have been filed. Firms that stand to lose money or have light shown on their activity will always yell, complain, get their views aired on CNBC, and ultimately sue the SEC. It's never been more important to be a part of this process and to have your voices heard.
We'll have so much more to say and do in 2024, so if you haven't already, sign up at https://t.co/HOqcO1mqNf and support our efforts.
🚨🚨BREAKING NEWS🚨🚨
More than 7,000 investors have signed a petition urging the government to prohibit Citadel from participating in the markets and calling for an investigation into Kenneth C. Griffin, the chief executive officer and co-chief investment officer, for alleged fraudulent activities.
The petition is currently open for additional signatures, providing an opportunity for interested individuals to express their support by signing it.
Watch #ApesTogetherStrong 👇 June 5. Then demand:
1) Fine$ + margin call$ for FTDs [NO waivers at NSCC's whim]
2) Mandatory Buy-In
3) If Buy-In fails, raise offer$ until it closes
4) Suspend & close accounts of brokers who FTD >3x/month: 15 U.S.C. § 78q–1 (b)(5)(C)(ii)
I just got off the phone with what was once a great American brand. Lots of problems, no accountability for high paid execs and little interest in my help (at no cost). This could get interesting.
Square this circle for us @citsecurities, Is the argument for internalization “eviscerated” by the dramatic fall in order processing costs? Or not? 🤔 Because @Citadel makes a good point and we hate to see you two argue. 🩴🩴
It's time to end Payment for Order Flow & get trades out of the wholesalers & on to lit exchanges. Let's end this corrupt & concentrated practice that's ruining market quality. Join @WeTheInvestors_ in our comment letter campaign & let's change markets!
https://t.co/bddXymEfCt