Ban the abusive naked short selling of stocks in the US market

Ban the abusive naked short selling of stocks in the US market

0 have signed. Let’s get to 10,000!
At 10,000 signatures, this petition is more likely to get a reaction from the decision maker!
David Ndungu started this petition to President Joseph R. Biden and

The US economy faces an imminent threat from rampant strategic counterfeiting of stocks by some market participants.

The SEC is either unwilling or incapable of addressing naked short selling that results in Fails-To-Deliver.

Some rogue players are counterfeiting stock then selling the counterfeit stock. These criminals have been doing this for years.

The increase in supply of a stock due to counterfeiting is designed to lower the price by short sellers. In the best case scenario the counterfeiter then buys real stock at a fraction of what they sold the counterfeit stock for and deliver the real stock to the buyer. In the worst scenario they let the transaction get into a fail-to-deliver status and move on to more counterfeiting and selling.

Americans are losing their savings to these predatory practices.

Reference:

1. https://wherearetheshares.com
2. https://youtu.be/ncq35zrFCAg
3. https://www.sec.gov/data/foiadocsfailsdatahtm

4. https://www.sec.gov/investor/pubs/regsho.htm

5. https://www.sec.gov/divisions/marketreg/mrfaqregsho1204.htmhttps://www.sec.gov/divisions/marketreg/mrfaqregsho1204.htm

6. https://www.sec.gov/rules/final/34-50103.htm

 

0 have signed. Let’s get to 10,000!
At 10,000 signatures, this petition is more likely to get a reaction from the decision maker!