Short & Sweet - Easy Petition Templates for NSCC Rule Change. With Updates!
Set to expose Wall Street's regulatory loopholes, household investors are petitioning the SEC for much needed rule changes. It's time to level out the playing field.
🧱 Market Reform
NSCC's got a "rule for throwing out rules". So we're going to throw out their rule, for throwing out rules. You in? 😃
NSCC's Rule 22 lets officials change/ignore rules at will and skip actions like closing failing trades (e.g., GME) if it might "disrupt the market". These changes don’t need full public disclosure and can last up to 60 days without extra approval. Awful, right? Send your petition!
PETITION TO ENFORCE RULES! NOT WAIVERS!
Ever felt cheated in the Wall St casino? You probably were. We've been robbed and the rules of Wall St's casino allows them to. The National Securities Clearing Corporation (NSCC), which clears and settles stock trades, has a Rule for throwing out rules [NSCC Rules]. The
SEC Commissioner Mark T. Uyeda from his statement on Form N-PORT and From N-CEN reporting: "I reject the premise that frequent public disclosure of consistent information made available for all funds is a “public good.”"
Just as SEC Commissioner Hester Peirce, SEC Commissioner Mark Uyeda dissents against the SEC's Form N-PORT and Form N-CEN reporting amendments.
Uyeda has criticized the SEC’s decision to increase the frequency of public disclosure of fund portfolio data, arguing that the move could harm fund investors and
Hester Peirce in her statement on the Adoption of Form N-PORT & N-CEN Reporting: "the Commission oversells the benefits of today’s amendments and gives too little attention to the costs" "I cannot support this rulemaking."
SEC Commissioner Hester Peirce Criticizes New Fund Reporting Rules for 'High Costs' and 'Limited Benefits':
In her statement on adoption of Form N-PORT and Form N-CEN reporting, SEC Commissioner Hester Peirce voiced strong opposition to the SEC's newly adopted amendments to fund reporting rules.
Whistleblower Alert! The SEC awards $98 million to two whistleblowers, meaning the fine levied ranged between $326,666,666.67 and $980,000,000 dollars.
The Securities and Exchange Commission today announced awards of more than $98 million to two whistleblowers whose information and assistance led to an SEC enforcement action and an action brought by another agency.
The first whistleblower’s tip prompted the opening of the investigations, and thereafter provided critical additional information
NSCC Proposed Rule Change OPEN For Comment: Updates to Accommodate Certain Trades from Fractional Share Trading Program.
Proposed Changes:
NSCC proposes to revise its Rules to allow an exception to the Real-time Trade Submission Requirement for Correspondent Clearing transactions representing aggregated transactions of fractional shares. As described above, NSCC cannot currently process trades on a fractional basis. However, NSCC may accept aggregated transactions from fractional share trading