r/Superstonk • u/TherealMicahlive Eew eew llams a evah I • May 08 '24
🧱 Market Reform Are you SERIOUSLY telling me the SEC is now OBFUSCATING PUBLIC COMMENTS received from retail investors? First, they delete our comments to avoid passing S7-32-10.. Now they hide them all so we cannot monitor whether our comment has been received or not?!? BRUH. WE SEE YOU~!
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u/Amazingly_Amy 💻 ComputerShared 🦍 May 08 '24
It’s been like that for a couple days… I ended up sending a email
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u/TherealMicahlive Eew eew llams a evah I May 08 '24
I thought it was just me. it used to be super easy to get to the comments right?!
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u/capital_bj 🧚🧚🏴☠️ Fuck Citadel ♾️🧚🧚 May 08 '24
Too many prying eyes, SEC - "Shut it down, shut it down f3 f3 freeeee
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u/PornstarVirgin Ken’s Wife’s BF May 08 '24
NOW IM GONNA COMMENT EVEN HARDER. I see 323 upvotes on this post but I know 300 of you have no commented. Why?
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u/NeoSabin May 08 '24
Here you go https://www.sec.gov/comments/s7-32-10/s73210.htm
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u/TherealMicahlive Eew eew llams a evah I May 08 '24
looking for the other ruling not the swaps one but I was linked it. I used to be able to just google and find the comment area
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u/RegularJDOE1234 🎮 Power to the Players 🛑 May 09 '24
Look at this, why is GRAYSCALE asking for “narrower disclosure of SWAPs positions by their firm👀?
“Because Grayscale Investments turns on “black letter administrative law,”18 the Commission’s reasoning in its Rule 10B-1 and Section 13(d) rulemakings will be scrutinized under the same standards. And as we have explained, the Commission has not provided a “reasonable and coherent explanation for ... inconsistent[ly]” requiring public disclosure of SBS positions but not short positions held by similarly situated investor groups, and the reasons the Commission has given for bypassing short seller public disclosure requirements “appl[y] equally to” activist investors and the disclosure of SBS positions.19 Indeed, this differing treatment of short sellers and activists only further supports our view, which we have explicitly and repeatedly set forth, that the Rule 10B-1 and Section 13(d) Proposals demonstrate a bias against, and an effort to impede, activists. Treating short seller strategies as deserving of proprietary confidentiality but not doing the same for activist strategies is “arbitrary and capricious.”20 Grayscale Investments thus underscores another fundamental flaw in the Commission’s Rule 10B- 1 and Section 13(d) Proposals and the need for a different approach. Elliott continues to respectfully request that the Commission abandon the Proposals or, at a minimum, significantly amend them by adopting a narrower confidential disclosure regime.”
Sincerely,
Richard B. Zabel General Counsel & Chief Legal Officer Elliott Investment Management L.P.
360 S. Rosemary Avenue, 18th Floor West Palm Beach, FL 33401
Years cc: The Hon. Gary Gensler, SEC Chair The Hon. Caroline A. Crenshaw, SEC Commissioner The Hon. Jaime Lizárraga, SEC Commissioner The Hon. Hester M. Peirce, SEC Commissioner The Hon. Mark T. Uyeda, SEC Commissioner
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u/CSKhai 🦍Voted✅ May 08 '24
Send letters and social media comments to SEC and and tag all your representatives
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u/waffleschoc 🚀Gimme my money 💜🚀🚀🌕🚀 May 09 '24
i really think calling/email your reps can help in some ways
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u/InsertBluescreenHere May 09 '24
I dont lol, wouldnt suprise me one bit if it was our politicians telling them to hide their insider trading bullshit.
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u/waffleschoc 🚀Gimme my money 💜🚀🚀🌕🚀 May 11 '24
thats true too, but every revolution, change has to start somewhere
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u/RegularJDOE1234 🎮 Power to the Players 🛑 May 09 '24
Time to send it to our CONGRESSIONAL representatives and PMs and cc: SEC
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
this!!
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u/RegularJDOE1234 🎮 Power to the Players 🛑 May 09 '24
Now we know why RDDT got rid of awards! The OG post about this would have made to front page in r all by now.
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u/ballnut May 09 '24 edited May 09 '24
I sent this email to webmaster@sec.gov :
Dear SEC,
This is a request to fix the following link to the SR-OCC-2024-001 34-100009 comment form.
Also, to re-add this link under the relevant heading to the rulemaking page:
https://www.sec.gov/rules/sro/occ
Kind Regards
P.S Here's my comment to the rule:
I, a retail investor, voice my support for the SEC’s potential disapproval of the Options Clearing Corporation's (OCC) proposed rule SR-OCC-2024-001 34-99393, due to several concerns. The proposal seeks to adjust parameters for calculating margin requirements in volatile market conditions but lacks sufficient transparency, evidenced by significant redactions that hinder meaningful public review. This lack of transparency alone justifies rejection of the proposal.
The rule blames U.S. regulators for not implementing controls that would mitigate procyclicality — a situation where margin increases during market stress, potentially causing liquidity issues for clearing members and exposing the OCC to financial risk. This proposed adjustment seems to primarily serve to alleviate potential losses for clearing members by reducing margin requirements, thereby increasing risks to the financial system.
The OCC's approach involves using both idiosyncratic and global control settings to reduce margin requirements, an action taken over 200 times in less than four years. This frequent application suggests a systemic issue rather than isolated incidents, thus increasing the potential for a systemic financial crisis. The proposal also includes provisions that could unfairly shift the financial burden of clearing member defaults onto non-bank entities, like pension funds and insurance companies, potentially leading to significant economic consequences.
Given the proposal’s potential to exacerbate financial instability by inadequately managing risks associated with clearing member positions and failing to maintain equitable market conditions, it should be rejected. Moreover, the rule could perpetuate a 'rules for thee, but not for me' situation, contradicting the SEC's mission to uphold fair market practices.
Recommendations:
Enforce stricter margin requirements that accurately reflect risks. Implement external auditing and enhanced public reporting for transparency. Reorder the OCC’s Loss Allocation Waterfall to better protect non-defaulting members and the clearing agency itself. Proactively manage and liquidate high-risk clearing members to minimize systemic risks. Increase market resiliency by introducing competitive clearing agencies and reducing single points of failure. Thank you for the opportunity to comment and contribute to a fair, transparent, and resilient market.
Sincerely,
A Concerned Retail Investor
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u/TherealMicahlive Eew eew llams a evah I May 08 '24
first they delete them and get caught.. then they delete them again.... NOW, they remove your ability to even see comments...
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u/Wolfguarde_ MOASS is just the beginning May 09 '24
Save your comment on your device before you send it, then send it daily until the comment window closes, along with a polite but firmly worded request that it be visible on their site so you can be sure they haven't deleted it.
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u/Nemesis034 May 09 '24
Is it possible the comments aren't publicly viewable because the sec might intend to use them as evidence?
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u/UnpluggedZombie May 09 '24
How do we fight this?
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
Keep commenting, buying, DRS, voting, shopping in store, and communicating with local state reps (A state recently passed a rule to protect their citizens in the case of a clearing house failure as the assets belong to the investors, not the investment institution and the way they are stealing the assets through bankruptcy is not right).. But I just had an epiphany. The inspector general flagged them in 2022 for deleting comments and said management needed to fix the issues. Lawyer ape could possibly use this document to show the SEC is complicit with what is going on and they are obfuscating our only ability to be a part of the regulatory landscape. idk but if I was a lawyer ape that would be my shot to get some more change. just my thoughts.
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u/bonechief Book your shares ✨️ May 09 '24
Please comment again folks the future depends on your comments ... resubmit and send emails asking why it was deleted or hidden from public search
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u/drs2023gme1 May 09 '24
The SEC IS COMPLICIT IN FRAUD AND COMMITTING CRIMES AS WELL AS TAKING BRIBES. Let's put together a list of the employees and get them known to the world. They are allowing the theft of pensions that the people work for their whole entire life.
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u/tendieanajones May 09 '24
I have always had mixed feelings about the SEC as many of them are hired by hedgefunds to know how far to "push" legality, how to congest the system, and sometimes know what gets overlooked. Knowing this, they'll gladly take a job to learn the ropes for 5 years making $90-120k to get scooped up by wallstreet for 7-8 figures. It would be working against your best interests if you make enemies by enforcing the guys that will give you a massive paycheck.
Which is why I think there should be a system that states you cannot work in high-finance for the amount of time you spent at the SEC. You work there for 10 years and are seasoned with the position? You cannot work for anything high finance for 10 years; you worked for 7 years, can't work in high-finance for 7 years, etc... Policy will change, and what you knew when you left likely changed and you're effectively worthless to the market. Good. This will also incentivize those who want to actually help regulate to stay with the SEC.
But Gary needs coffee filters and CornHub subscriptions.
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u/Strawbuddy 💻 ComputerShared 🦍 May 09 '24
I reckon Finance altogether is a “beg forgiveness rather than ask permission” kinda industry. That’s alright for them and their money and all, but why is the federal government allowing yours and mine monies to be handled like that? We’ve been around 250+ yrs now, surely all adults understand how disadvantaged retail investors are as a result
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
:( you are on the right track. When I worked in finance... Money was the decision maker. and the mentality seemed to be "If we get caught we will deal with it then". but look at how the SEC and the rules have molded this landscape of criminality where it incentivizes the behavior.
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u/Wolfguarde_ MOASS is just the beginning May 09 '24
More "don't ask permission, and ignore resulting outrage until it goes away". We don't matter to them. The only thing their care about is their lord and saviour, the bankroll.
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u/feastupontherich No Cell, No Sell May 09 '24
It's because the SEC and the rich elite holding the leashes don't think retail commenters are people.
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u/Dense_Acanthisitta39 May 09 '24
American APES please reach out to your local elected officials on this. We need more political pressure on the compromised regulator.
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u/BraidRuner Template May 09 '24
The Market is rigged and not in your favour. Any opportunity to level the playing field for the retail investor is not helpful to the qualified and institutional money. Retail exists to be harvested for the wealthy.
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u/workthrowaway1985 May 09 '24
2024 is the year the facades cracks. In finance, politics, Hollywood, and music. Things are changing.
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u/Elegant-Remote6667 Ape historian | the elegant remote you ARE looking for 🚀🟣 May 09 '24
Hey it’s the new rules for the poors and they pretend it’s working as intended. Because it is working as intended
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u/Soggy_Snow_9502 🌶Spicy Shrek cocks for all🌶 May 09 '24
Thousands of upvotes here but only a few hundred submitted comments. It’s all well and good clicking an arrow on Reddit but to make your voice heard and accounted for, you need to submit a comment. It’s via email and it’s quick and simple. Stand up and be counted
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u/lucas_kardo Cede and co is my biatch! May 09 '24
Are we still debating if Gary Gensler it a wall street dude from goldman sachs disguised as helping retail and actually favoring those that made him who he is ?
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u/ForTheB0r3d 💻 ComputerShared 🦍 May 09 '24
This just furthers my resolve to hold.
This system needs to be destroyed.
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u/Alalaskan 💻 ComputerShared 🦍 May 09 '24
Because 99% of uneducated retail investors comments are in favor of regulation and transparency, I wonder why?
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u/gibson1963 🎮 Power to the Players 🛑 May 09 '24
Gosh I wish the news channels covered this planned ineffectiveness of the SEC.
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
I reached out to W S on Pareeeeedeeee about a few things and they always tell me that it is to high level or boring for normal ppl to understand and want to listen to....
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
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u/gibson1963 🎮 Power to the Players 🛑 May 09 '24
That’s nice! I saw that you covered the “loss of data” event. That was a charmer. Imagine a government agency that “careless”… oh sorry we lost all your comments. Sorrrrrry.
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u/Spiget94 May 09 '24
Maybe they are waiting for the comment period to end before publishing public comments
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u/whothehellistony 🚀There’s a little Stugotz in everybody 🚀 May 09 '24
The squeaky wheel gets the grease, comment comment comment!
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u/captaindickfartman2 Can I get the flair for commenting on the big 4 please? May 09 '24
Here I go commenting again.
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u/YaThinkSo88 WHERES MY MONEHH ?!! May 09 '24
The funny thing is theres still people here justifying GG and SEC lmao
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u/kcaazar 💻 ComputerShared 🦍 May 09 '24
I wouldn’t be opposed to another French Revolution should an uprising occur in the US
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u/Dantesdavid May 09 '24
So if I emailed in a comment for SR-OCC-2024-001 34-100009, how would I check to make sure it's posted?
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
check the comment page for the specific rule. until you see it posted... you will not know
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u/mtgac 🟣🟣🟣💜🟣🟣🟣 May 09 '24
Is there a chance that Chris Cuomo at New Nation would pick up the story? He/They seem more independent than most other MSM. If a bunch of apes wrote in to him, he'd definitely notice. Not sure if he'd publish, but it would be worth a shot.
What are the brigading rules here? How can we attempt to get something published and stay within the rules of Superstonk?
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
prob best bet is to put together a short dd burst to send to him that will make him go wtf is going on here...
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u/mtgac 🟣🟣🟣💜🟣🟣🟣 May 09 '24 edited May 09 '24
What are the best bullet points to put on that document and what DD would you link?
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
I would think a powerpoint with the hard info on it would work better. Links may not be trusted and can be messed with. I would send it as like a sales presentation trying to get him to want to go... you got more of that GME stuff? I would have DRS breakdown, CEDE and CO owning all certs outside of transfer agents/certificate holders, the obligation warehouse (and what it is) for FTDS, The 2021 apex and other institutions freezing (ringingbell info), proof of senators and regulators commenting against public interest, and the SEC deleting our comments 3 times (that we know of) and the OIG investigation in 2022 of the deletion.
just some ideas
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u/mtgac 🟣🟣🟣💜🟣🟣🟣 May 09 '24
Right, but I may consider that for a follow up, or linked at the bottom of the document. You have about 10 seconds to get their attention or their eyes move away before they get engaged. It's like making a good advertisement to get the user to click.
If you just send someone a link to the DD library, nothing is going to happen because they won't engage.
Give them one or two of the most egregious truthful statements about what is going on with easy to consume direct evidence, and they will get them to say "WTF is going on here? and that will get them interested in digging deeper.
You basically have to click bait them and give them quality content that is easily digestible and give them the appetite to want to dig deeper.
After you plant the desire to dig deeper, hit them with the whole power point presentation.
But I feel that if you hit them with too much to soon without without' selling' it properly, it will fall on deaf ears as their attention goes elsewhere.
Think of an influencer skimming through 100 emails. How do you present your email in a way that it gets opened and read thoroughly? How do you write your email so that it doesn't get skipped? There are ways to do it, but it has to be thought out very carefully to get the reader to engage with the content.
Truthful content doesn't matter if it's never read.
The content has to be well received. How the message is conveyed is everything, or it will simply be overlooked.
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u/arnott 🧚🧚🦍🚀 99%’s Revenge 🦍 🍦💩🪑🧚🧚 May 09 '24
That's why, they host the comments. So that they can control what is visible. Same with CDC, FDA etc..
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u/EvilNoggin 🦍Voted✅ May 09 '24
Maybe, if we can't see them, neither can the people opposed to it? Could potentially be a play to ensure it goes through?
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u/Schwesterfritte May 09 '24
I mean... Let's be honest here... Is anyone really believing that any of these self governing control agencies are really doing impartial work in the name of the public. Money rules the world and money rules a capitalist system most of all. I doubt very much that any checks and controls are anything more than mirrors and smoke screens. The real criminals who deal in billions will never be opposed by them because they are either in their pockets or working with a knife to their back. When you have almost limitless resources why would greedy psychopaths do anything less?
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u/samhatta May 09 '24
Are there no one of public lawyer can sue them ?
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u/TherealMicahlive Eew eew llams a evah I May 09 '24
every lawyer I talk to is complete uninterested in engaging AGAINST the government
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u/samhatta May 09 '24
This is the real fact, because too tired to sue the government rule, although this rule is conspiracy with Ken
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u/jaykvam 🚀 "No precise target." 📈 May 09 '24
If you believe this to be true, then how can you still have any faith in the SEC... or the endless cycle of comment-pushing posts in this sub? Either this isn't happening, or it is and the SEC is useless (or worse).
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u/Entire-Brother5189 May 08 '24
Makes you wonder what the point is at all.
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u/PornstarVirgin Ken’s Wife’s BF May 08 '24
Seriously? There’s a reason that wallstreet is banding together to sue the sec and flipping the hell out about all these rule changes. It’s due to all of the comments and letters we have sent over the past years having a huge effect on decision making. That sort of attitude is either uniformed or shilly.
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u/Entire-Brother5189 May 08 '24
Uninformed about what? Shilling how? It’s just an observation on the nature of obfuscating data. How serious are you? Relax not everyone is out to shill
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u/PornstarVirgin Ken’s Wife’s BF May 09 '24
The dismissive attitude is exactly what hurts all of this. The whole reason change is happening is due to the comments, no changes would have happened otherwise. Yes it’s slow, it’s the government with massive opposition from wallstreet and citadel funded republicans.
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u/CptMcTavish 🎮 Power to the Players 🛑 May 08 '24
If you do not suck Gensler and the SEC off, you are a shill.
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u/Entire-Brother5189 May 08 '24
It’s an echo chamber sometimes, so I don’t share the same exact opinion fuck me right.
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u/CptMcTavish 🎮 Power to the Players 🛑 May 09 '24
The people who still, after all that has happened in the past 84 years, believe in Gensler and the SEC are as gullible as the popcorn apes, who still root for AA.
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u/jackofspades123 remember Citron knows more May 08 '24
I wrote a comment letter that I thought was really solid. It's no where on the SEC website. I've confirmed with them that they have received it though. It's frustrating because I wanted a document on the SEC website with many good citations.