Petition to Invoke SEC Rule 304 (a)(4) to remove GME and AMC across all ATS dark pools


Petition to Invoke SEC Rule 304 (a)(4) to remove GME and AMC across all ATS dark pools
The Issue
Petition to invoke SEC Rule 304(a)(4) to remove GME and AMC across all private dark pool exchanges indefinitely.
We, the undersigned, are concerned investors- many of whom have lost significant amounts of money- that believe the Securities and Exchange Commission ("the SEC") has committed gross negligence in it's failure to protect publicly traded investments- like AMC and GME- from predatory dark pool trading pools. We believe dark pool trading has been used to facilitate predatory naked shorting, which in nature is, not only harmful to individual investors, detrimental to our markets as a whole, but also illegal.
To date, the SEC has turned a blind eye to numerous complaints of predatory dark pool trading in GME and AMC which facilitates illegal naked short selling, resulting in millions of failures to deliver shares of AMC Entertainment Holdings Inc. ("AMC") and GAMESTOP CORP. ("GME"). Such failures to deliver stock have resulted in the destruction of normal market dynamics by artificially suppressing price discovery in GME, AMC and many other stocks. We believe any counter arguments that dark pool trading is needed to provide sufficient liquidity is unfounded.
For the above stated reasons, we hereby petition the Securities and Exchange Commission to invoke SEC Rule 304(a)(4) to remove AMC and GME from all private dark pool trading pools in the SEC's jurisdiction.
1,176
The Issue
Petition to invoke SEC Rule 304(a)(4) to remove GME and AMC across all private dark pool exchanges indefinitely.
We, the undersigned, are concerned investors- many of whom have lost significant amounts of money- that believe the Securities and Exchange Commission ("the SEC") has committed gross negligence in it's failure to protect publicly traded investments- like AMC and GME- from predatory dark pool trading pools. We believe dark pool trading has been used to facilitate predatory naked shorting, which in nature is, not only harmful to individual investors, detrimental to our markets as a whole, but also illegal.
To date, the SEC has turned a blind eye to numerous complaints of predatory dark pool trading in GME and AMC which facilitates illegal naked short selling, resulting in millions of failures to deliver shares of AMC Entertainment Holdings Inc. ("AMC") and GAMESTOP CORP. ("GME"). Such failures to deliver stock have resulted in the destruction of normal market dynamics by artificially suppressing price discovery in GME, AMC and many other stocks. We believe any counter arguments that dark pool trading is needed to provide sufficient liquidity is unfounded.
For the above stated reasons, we hereby petition the Securities and Exchange Commission to invoke SEC Rule 304(a)(4) to remove AMC and GME from all private dark pool trading pools in the SEC's jurisdiction.
1,176
Supporter Voices
Petition created on October 6, 2022