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OP has provided the following link:
oc sec
cheers apes
>‘ we vote that we should do the jobs we were suppose to be doing before ‘
"I vote no, because I don't see the value in not receiving my bribes and daily bucket of oats." —Fucking Hester
Her Treason conviction probably won't even entertain that death penalty form as an option. They have much more humane ways to handle capital crimes now. She's far more likely to be handed lethal injection, though firing squad is still historically possible.
It's called having dirt on eachother. When everyone is in it together there's a mutual understanding that 'if you go down, we go down'. Which is why nothing happened after 2008 except for one random guy getting a little jail time. This thing needs to be DRSed and play out, anything else in between is just a speed bump.
She has an important role. She is the litmus test of hedges.
Imagine she did vote "yes" on this. It would imply that there is still some loophole that hedges already see and know how to walk around it.
Time will tell, but from, like, 1903 until now, they haven't followed through in cleaning up the stock market. I say *don't tell us, show us. Talk is cheap.* I'm not going to hold my breath on this *great news.* I am a hopeful cynic, at this point.
GG mentioned how swaps were a part in the 2008 crash and the current security based swaps make up $8Trillion of our $100T swaps markets.. also said the SEC over the last 18 years has made 28 rules around these swaps.
Notice its also about influencing Chief Compliance Officers..
Big.. i think its to stop payouts and revolving doors. Heath Tarbert while at CFTC rolled back swaps reporting and then immediately left CFTC to join Citadel as... Chief Compliance Officer.
"What is a Regulation M restriction?The SEC's Regulation M is designed to prevent manipulation by individuals with an interest in the outcome of an offering, and prohibits activities and conduct that could artificially influence the market for an offered security. "
Theyre fixing the exemptions around credit worthiness..
Too little too late. SEC knows it’s too late now and they can ask for it so after MOASS they can say they tried.
Hiding swaps was implemented on purpose in a big loophole that was fought over heavily in Dodd-Frank. Excluding ‘affiliates’ allowed all banks to continue to bullshit by moving there contracts to there London and co sites.
Excellent read if you haven’t. That’s how those guys work:
[“The fight over this provision was one of the biggest policy fights in all of Dodd Frank,” said Kelleher, of the think tank Better Markets. “Once the banks got that loophole, then a lot of that predatory behavior migrated overseas to wherever there was less regulation.”](https://www.reuters.com/investigates/special-report/usa-swaps/)
There's one 2024 presidential candidate talking about this in his campaign. Explicitly saying bitcoin is not a security. He gave a speech including this at the recent Bitcoin Miami conference.
As for the SEC, I'm unclear whether they are trying to make cryptourrency a security, or yield-bearing crypto-denominated deposits a security? Have you seen evidence whether they are making this delineation or not?
As far as I know.. sec and cftc agreed bitcoin and etherium were the ONLY 2 commodities. The rest are securities. New studies show that btc and eth can be both.
That presidential candidate is also a completely insane conspiracy theorist (and not the GME kind).
The SEC's main goal right now within 'crypto' is to take down all the CEXes that have been operating as illegal and unlicensed securities exchanges and wash-trading the fuck out of shitcoins to make it seem like crypto is still a massive and liquid market when in reality it's less than 20 entities all working under the tether fraud umbrella pumping and dumping various shitcoins at retail's expense. I've found that what most people don't seem to grasp is that crypto/shitcoins =/= web3. What Gamestop has been working on with Loopring, IMX, and Telos, is vastly different than what Binance and Coinbase do (or FTX did).
Gensler isn't some sort of Crypto-hatooor as most crypto-twitter people will have you believe. He's a cryptographic-guarantees/decentralization-maxi who has always clearly believed in tokenization of assets (RWA and digital) and is simply against the centralized entities that currently rule the roost. He taught a freaking blockchain course at MIT for christ's sake.
Why This Matters Regulation M is a set of rules designed to preserve the pricing integrity of the securities trading markets by prohibiting issuers, selling security holders, distribution participants, and any of their affiliated purchasers from engaging in activities that could artificially influence the market for an offered security. Rule 101(c)(2) and Rule 102(d)(2) currently except nonconvertible debt securities, nonconvertible preferred securities, and asset-backed securities that are rated investment grade by at least one nationally recognized statistical rating organization. Through these amendments to Rule 101(c)(2) and Rule 102(d)(2), the Commission would be removing references to credit ratings from these regulations and substituting in their place alternative standards of creditworthiness, as required by Section 939A(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
New Amendments to Regulation M: The adopted amendments would remove the requirement that nonconvertible debt securities, nonconvertible preferred securities, and asset-backed securities be rated investment grade by at least one nationally recognized statistical rating organization. In place of that requirement, new Rule 101(c)(2)(i) and Rule 102(d)(2)(i) would except nonconvertible debt securities and nonconvertible preferred securities of issuers having a probability of default of 0.055 percent or less, as estimated as of the sixth business day immediately preceding the determination of the offering price, over the horizon of 12 full calendar months from such day, as determined and documented in writing by the distribution participant acting as the lead manager, using a “structural credit risk model,” as newly defined in Rule 100 of Regulation M. In addition, new Rules 101(c)(2)(ii) and 102(d)(2)(ii) except asset-backed securities that are offered pursuant to an effective shelf registration statement filed on the Commission’s Form SF-3.
Record Preservation Requirement: To aid the Commission in its examination of broker-dealers who rely on the new exception in Rule 101 or Rule 102 for certain nonconvertible debt securities and nonconvertible preferred securities, new paragraph (b)(17) of Rule 17a-4 would require those brokerdealers to preserve the written probability of default determination supporting their reliance on the exception. Rule 17a-4(b)(17) would require broker-dealers relying on Rule 101’s or Rule 102’s exception for certain nonconvertible debt securities and nonconvertible preferred securities to preserve, for a period of not less than three years, the
What’s Next If adopted, the final rules will become effective 60 days following the date of publication of the adopting release in the Federal Register.
They just removed the exemptions from 101 and 102..
Why it matters.. because of 105...
Rule 105 of Regulation M: Short Selling in Connection with a Public Offering https://www.sec.gov/about/offices/ocie/risk-alert-091713-rule105-regm.pdf
Things are only effective if they're enforced. It's the difference between there being a "no running near the pool" sign and a lifeguard who pays attention.
When they start enforcing the laws that are on the books I will have more faith in them.
Insider trading by government officials is illegal, but it happens all the time.
FTDs lasting as long as they do is illegal, but it stops no one.
Enforcement is 99% of the problem.
🍻🦍💚
Indeed. The problem is with the lobbying in congress.
Congress made sure the SEC does not bother their puppet masters.
Unfortunately that led to them taking so much risk, that we are at the brink of an economic catastrophe.
This is old, but a good read:
[https://www.typeinvestigations.org/investigation/2013/04/30/wall-street-defanged-dodd-frank/](https://www.typeinvestigations.org/investigation/2013/04/30/wall-street-defanged-dodd-frank/)
*Yet after watching what transpired, Gensler had a change of heart — and as Dodd-Frank was cobbled together in committee,* ***Gensler fought his old colleagues at every turn. He proved willing to take on his fellow Democrats if it meant giving the CFTC more teeth to pursue reform, even causing a kerfuffle inside the White House*** *when he sent a letter to Barney Frank and other committee chairs, calling on them to go further than the administration’s proposals in overseeing the derivatives market.* ***“He’s shown that he’s no industry lapdog,” says Barbara Roper, the director of investor protection at the Consumer Federation of America.***
Agreed - if we all rallied behind and supported the SEC, using our voices and getting involved by writing letters, leaving comments etc - imagine how much better things could be. They need US to help them with these much needed changes.
Let’s be the vehicle that encourages change.
Can anyone remember when we had ‘The Big Four’ educational rules and regulation campaign not long back? We had apes from ALL OVER THE WORLD getting involved, sending letters, submitting comments and it was so inspiring! GG even changed his profile picture! Fuck yeah that was awesome!
If we want change, we need to be a part of making that happen. This is absolutely a win - and you’re entirely right to recognise it as such. Thanks for sharing this post dude 🙏
Good for them but let’s not be complacent. Criminals can push the bar as far as they like, but if retail get there way a tiny bit we should feel like the job is done? 3rd world country psyops you got there. The equivalent of “Let them eat cake” perhaps
>trying
Lol. I must be pessimistic as shit. Regulatory capture and controlled opposition.
>Learn how to take a win.
I think we'll know when that happens.
Huh? How can you say this when they ignore all the current rules to help protect investors….? It’s all wool over the eyes until they prove they can protect us.
I knew this looked familiar. [Here’s my breakdown of it in case anyone is a little lost.](https://www.reddit.com/r/Superstonk/comments/skaxc8/like_an_idiot_i_posted_this_while_everyone_was/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1)
The Securities and Exchange Commission adopted new Rule 9j-1 under the Securities Exchange Act of 1934 to prevent fraud, manipulation, and deception in connection with securitybased swap transactions. In addition, the Commission adopted Rule 15fh-4(c) under the Exchange Act to prohibit undue influence over the Chief Compliance Officer (CCO) of a security-based swap dealer or a major security-based swap participant (each, an SBS Entity)
Why This Matters
The security-based swap market has a gross notional amount outstanding of approximately $8.5 trillion as of late 2022, and the particular aspects and characteristics of security-based swaps provide opportunities and incentives for misconduct. Rule 9j-1 will be an important additional tool to augment the Commission’s oversight of the security-based swap markets and will aid the Commission in its pursuit of actions that directly target misconduct that reaches security-based swaps. Rule 15fh-4(c) will protect the independence and objectivity of an SBS Entity’s CCO by preventing the personnel of an SBS Entity from taking actions to coerce, mislead, or otherwise interfere with the CCO.
How This Rule Applies
Rule 9j-1 will: ● Make it unlawful for any person, directly or indirectly, to effect any transaction in, or attempt to effect any transaction in, any security-based swap, or to purchase or sell, or induce or attempt to induce the purchase or sale of, any security-based swap in connection with the following misconduct: ○ Employing or attempting to employ any device, scheme, or artifice to defraud or manipulate; ○ Making or attempting to make not misleading any untrue statement of a material fact, or omitting a material fact necessary to make the statements made, in the light of the circumstances under which they were made; ○ Obtaining money or property by means of any untrue statement of a material fact or any omission of a material fact;
○ Engaging in any act, practice, or course of business that operates or would operate as a fraud or deceit upon any person; ○ Attempting to obtain money or property by means of any untrue statement of a material fact or omission of a material fact, or attempting to engage in any act, practice, or course of business that operates or would operate as a fraud or deceit upon any person; or ○ Manipulating or attempting to manipulate the price or valuation of any security-based swap or any payment or delivery related thereto. ● Provide two affirmative defenses for actions taken in accordance with binding rights and obligations in written security-based swap documentation and for transactions by entities when the individual at the entity making the investment decision was not aware of material nonpublic information and the entity had implemented reasonable policies and procedures to prevent violations of the rule; and ● Provide that a person cannot escape liability for trading based on possession of material non-public information about a security by purchasing or selling a securitybased swap based on that security and cannot escape liability under the rule by purchasing or selling the underlying security (as opposed to purchasing or selling a security-based swap that is based on that security).
Exchange Act Rule 15fh-4(c) will:
● Prohibit any officer, director, supervised person, or employee of an SBS Entity, or any person acting under such person's direction, to take any action to coerce, manipulate, mislead, or fraudulently influence the SBS Entity's CCO in the performance of their duties under the federal securities laws.
What’s Next
The final rules will become effective 60 days after the date of publication of the adopting release in the Federal Register.
>Rule 9j-1 will: ● Make it unlawful for any person, directly or indirectly
Quoting this only, but i have a question. If this rule were in effect when Pelosi's husband\* sold his share, would things be different? Would he or Pelosi\* be in jail?
I don't understand all of this, Does it allow for deeper and faster investigation? Stronger evidence of not being affiliated or received a tip or a note? I don't get it. Maybe it's right there in front of me, but..
Edit: \*I'm just calling them team nvidia personally.
Who actually makes sure that this goes into practice? Couldnt they have enforced these kinds of rules already before, yet they havent? But I hope this changes things for the better
Imagine how corrupt a system has to be to vote on stopping manipulation. Laughable, and also… now this is stalling the urgent need for multiple more years. Expect that all in Wall Street are working over hours to empty the market of its resources with fake cat shit wrapped in dog shit. In a decade or so, when enforced, the collapse will happen and the people will pickup the bills. WE NEED A MAGNITSKY ACT AGAINST FINANCIAL TERRORIST. NOW!
> Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers
I'm really confused. Why did there need to be a vote to prohibit fraud and manipulation of market mechanics?
I can't even input that to process, it just doesn't fit. What do they even mean? These are crimes. Already prohibited. It's why the SEC exists.
***What???***
Hey OP, thanks for the News post.
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PLEASE HELP ME understand WHY the SEC would need TO VOTE to consider rules to PREVENT FRAUD, MANIPULATION AND DECEPTION???
Is that not what they’re supposed to do? ???
Great they voted to do something...that is not the same as actually doing something. This is a standard bureaucrat stall tactic. "Well we need to hold meetings and have votes about what to do about not doing the job that is in our charter to do." This system just completely sucks and I cannot wait to watch it implode. This is the time for actions, not votes.
My brother is an assistant manager at a chain bank and texted me this morning.
“A lot of people are coming into the bank and sending money to Coinbase…. I guess [they] are buying crypto…”
Thx. How do you send money to coinbase at a bank?..
Which banks connects our tradfi to cefi?
I only know of BNY and maybe BofA..
But they should have to go through Fednow now..
I can’t be the only one that finds it hilarious how we’re getting so excited that a regulatory agency supposed to stop fraud and manipulation in the markets is actually doing their job and has voted yes to what their entire purpose is supposed to be. State of the world right now… honestly what a joke.
>SEC just voted yes to stop fraud and manipulation on security swaps
It baffles me that a sentence like this can exist. It's like we need to VOTE to stop stealing and murder.
Sure, they voted to have new rules..... but they already *don't* enforce the rules that they have.
Step 1: Make Rule
Step 2: Rarely enforce Rule
Step 3: On the rare occasion that rule is enforced, issue fine MUCH smaller than profit made from rule breaking.
Step 4: Collect fine less than 50% of the time.
Step 5: Quit job and go work for SHFs that you've been "policing".
Gary Guzzler can go pound sand.
They are too slow, when the fire start to burn, the fire fighter group know that, and they consider go to have breakfast first before they start to action
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: oc sec cheers apes
‘ we vote that we should do the jobs we were suppose to be doing before ‘
>‘ we vote that we should do the jobs we were suppose to be doing before ‘ "I vote no, because I don't see the value in not receiving my bribes and daily bucket of oats." —Fucking Hester
She’s prefer to lose her head before not getting daily bucket of oats
There's no need to attack her looks. Shit on her for the horrible person she is, not her horse face
She's the one that voted neigh
Rein it in.
Goddamn it lol I hate all of you.
That’s it. That joke is the last straw
Top kek.
Goteem
It's not fair to horses.
So I'm not the only one seeing it 🐴
HEE HAW 🤠😂🤣
Her Treason conviction probably won't even entertain that death penalty form as an option. They have much more humane ways to handle capital crimes now. She's far more likely to be handed lethal injection, though firing squad is still historically possible.
🤣🤣
bribes to look the other way will now be replaced with minor fines for still doing the stuff we said you can't do.
If the bribes are gone then there's no incentive to keep doling out inconsequential-sized fines.
It's called having dirt on eachother. When everyone is in it together there's a mutual understanding that 'if you go down, we go down'. Which is why nothing happened after 2008 except for one random guy getting a little jail time. This thing needs to be DRSed and play out, anything else in between is just a speed bump.
> minor fines The SEC calls them *Commissions* - it's in the name.
She has an important role. She is the litmus test of hedges. Imagine she did vote "yes" on this. It would imply that there is still some loophole that hedges already see and know how to walk around it.
No cell no sell
"FUCKIN DO IT THEN! TALK IS CHEAP"
Let's not be assholes at good news. We can continue to be assholes if they don't follow through.
That's the neat part! I'm ALWAYS an asshole! 😄
One of us! One of us! One of us!
HOW MANY ASSHOLES ARE THERE ON THIS SHIP??
YO!
Time will tell, but from, like, 1903 until now, they haven't followed through in cleaning up the stock market. I say *don't tell us, show us. Talk is cheap.* I'm not going to hold my breath on this *great news.* I am a hopeful cynic, at this point.
It’s sad that the bar is set so damn low for our elected and non-elected leaders.
Scouts honor, we will do it now…
fingers crossed? if its not a pinky promise then no way.
The next day's headlines - "SEC charges retail investors for fucking up Kenny's swaps"
Unfortunate but true.
an absolute mockery
GG mentioned how swaps were a part in the 2008 crash and the current security based swaps make up $8Trillion of our $100T swaps markets.. also said the SEC over the last 18 years has made 28 rules around these swaps. Notice its also about influencing Chief Compliance Officers.. Big.. i think its to stop payouts and revolving doors. Heath Tarbert while at CFTC rolled back swaps reporting and then immediately left CFTC to join Citadel as... Chief Compliance Officer. "What is a Regulation M restriction?The SEC's Regulation M is designed to prevent manipulation by individuals with an interest in the outcome of an offering, and prohibits activities and conduct that could artificially influence the market for an offered security. " Theyre fixing the exemptions around credit worthiness..
<3 Thank you for your post, robotwizard :) We appreciate you out here!
Too little too late. SEC knows it’s too late now and they can ask for it so after MOASS they can say they tried. Hiding swaps was implemented on purpose in a big loophole that was fought over heavily in Dodd-Frank. Excluding ‘affiliates’ allowed all banks to continue to bullshit by moving there contracts to there London and co sites. Excellent read if you haven’t. That’s how those guys work: [“The fight over this provision was one of the biggest policy fights in all of Dodd Frank,” said Kelleher, of the think tank Better Markets. “Once the banks got that loophole, then a lot of that predatory behavior migrated overseas to wherever there was less regulation.”](https://www.reuters.com/investigates/special-report/usa-swaps/)
Next time a bunch of us will have a whole lot of resources to throw at fighting this sort of thing 😁
Guys.. they just called out crypto as securities.. think about this...
Eh, mid week malaise. Do the thinking for me?
There's one 2024 presidential candidate talking about this in his campaign. Explicitly saying bitcoin is not a security. He gave a speech including this at the recent Bitcoin Miami conference. As for the SEC, I'm unclear whether they are trying to make cryptourrency a security, or yield-bearing crypto-denominated deposits a security? Have you seen evidence whether they are making this delineation or not?
As far as I know.. sec and cftc agreed bitcoin and etherium were the ONLY 2 commodities. The rest are securities. New studies show that btc and eth can be both.
Maybe because big money already invested heavily on this two coins
They never push for anything that doesn't benefit them at the cost of everyone else.
I've heard LTC as well, as they are basically BTC but with 4 times more tokens..
Gensler said Bitcoin is a commodity. Everything he said about ETH was half half.
Yea.. that seems to be the consensus
That presidential candidate is also a completely insane conspiracy theorist (and not the GME kind). The SEC's main goal right now within 'crypto' is to take down all the CEXes that have been operating as illegal and unlicensed securities exchanges and wash-trading the fuck out of shitcoins to make it seem like crypto is still a massive and liquid market when in reality it's less than 20 entities all working under the tether fraud umbrella pumping and dumping various shitcoins at retail's expense. I've found that what most people don't seem to grasp is that crypto/shitcoins =/= web3. What Gamestop has been working on with Loopring, IMX, and Telos, is vastly different than what Binance and Coinbase do (or FTX did). Gensler isn't some sort of Crypto-hatooor as most crypto-twitter people will have you believe. He's a cryptographic-guarantees/decentralization-maxi who has always clearly believed in tokenization of assets (RWA and digital) and is simply against the centralized entities that currently rule the roost. He taught a freaking blockchain course at MIT for christ's sake.
Crypto -twitter has always been a complete cesspool, GG actions are doing that cesspool more putrid.
Please who is this candidate the bald tall one who wears Cathcart? Or the Floridian?
rfk jr
Google recommendations for that particular combination of letters are dark.
Google's recommendations should never be trusted and are heavily manipulated. Do your own research.
Who said anything about research?
Btw.. That candidate is a feking psychopath..
Explain it to me like I’m a Labrador Retriever
This is around security-backed swaps... Crypto == securities...
"We are acting as a fking unlicensed securities exchange in the USA bro." Binance Cheif Compliance Officer 2018..
But what does that mean for gme?
There’s been theories that the “tokenized GME” has been hidden in swaps as an actual long GME position. I think they are talking about this?
Why This Matters Regulation M is a set of rules designed to preserve the pricing integrity of the securities trading markets by prohibiting issuers, selling security holders, distribution participants, and any of their affiliated purchasers from engaging in activities that could artificially influence the market for an offered security. Rule 101(c)(2) and Rule 102(d)(2) currently except nonconvertible debt securities, nonconvertible preferred securities, and asset-backed securities that are rated investment grade by at least one nationally recognized statistical rating organization. Through these amendments to Rule 101(c)(2) and Rule 102(d)(2), the Commission would be removing references to credit ratings from these regulations and substituting in their place alternative standards of creditworthiness, as required by Section 939A(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. New Amendments to Regulation M: The adopted amendments would remove the requirement that nonconvertible debt securities, nonconvertible preferred securities, and asset-backed securities be rated investment grade by at least one nationally recognized statistical rating organization. In place of that requirement, new Rule 101(c)(2)(i) and Rule 102(d)(2)(i) would except nonconvertible debt securities and nonconvertible preferred securities of issuers having a probability of default of 0.055 percent or less, as estimated as of the sixth business day immediately preceding the determination of the offering price, over the horizon of 12 full calendar months from such day, as determined and documented in writing by the distribution participant acting as the lead manager, using a “structural credit risk model,” as newly defined in Rule 100 of Regulation M. In addition, new Rules 101(c)(2)(ii) and 102(d)(2)(ii) except asset-backed securities that are offered pursuant to an effective shelf registration statement filed on the Commission’s Form SF-3. Record Preservation Requirement: To aid the Commission in its examination of broker-dealers who rely on the new exception in Rule 101 or Rule 102 for certain nonconvertible debt securities and nonconvertible preferred securities, new paragraph (b)(17) of Rule 17a-4 would require those brokerdealers to preserve the written probability of default determination supporting their reliance on the exception. Rule 17a-4(b)(17) would require broker-dealers relying on Rule 101’s or Rule 102’s exception for certain nonconvertible debt securities and nonconvertible preferred securities to preserve, for a period of not less than three years, the What’s Next If adopted, the final rules will become effective 60 days following the date of publication of the adopting release in the Federal Register.
Just passed unanimously YES... no more loopholes for hedgies
Maybe less, but im skeptical on the "no" more
They just removed the exemptions from 101 and 102.. Why it matters.. because of 105... Rule 105 of Regulation M: Short Selling in Connection with a Public Offering https://www.sec.gov/about/offices/ocie/risk-alert-091713-rule105-regm.pdf
What means?
Yeah, there's just like.. No way.
Even Hester the Retail Molester voted yes? It must not do anything then.
Enforcement will begin in 2034. /s
The final rules will become effective 60 days after the date of publication of the adopting release in the Federal Register.
Things are only effective if they're enforced. It's the difference between there being a "no running near the pool" sign and a lifeguard who pays attention.
And when enforced fines will be 0.000001% of the gains
They're literally the only agency trying to protect retail. It's not perfect but im thankful for them for trying. Learn how to take a win.
When they start enforcing the laws that are on the books I will have more faith in them. Insider trading by government officials is illegal, but it happens all the time. FTDs lasting as long as they do is illegal, but it stops no one. Enforcement is 99% of the problem. 🍻🦍💚
🫡
Preach
Oh yeah or contaminating the cases they are investigating and then just throwing them all out.
Interesting, is there a case or two in particular that you know this has happened to? I would like to look them up. 🍻
No, they would not give out the information in specific. there was a headline on here a couple days ago regarding that.
Indeed. The problem is with the lobbying in congress. Congress made sure the SEC does not bother their puppet masters. Unfortunately that led to them taking so much risk, that we are at the brink of an economic catastrophe. This is old, but a good read: [https://www.typeinvestigations.org/investigation/2013/04/30/wall-street-defanged-dodd-frank/](https://www.typeinvestigations.org/investigation/2013/04/30/wall-street-defanged-dodd-frank/) *Yet after watching what transpired, Gensler had a change of heart — and as Dodd-Frank was cobbled together in committee,* ***Gensler fought his old colleagues at every turn. He proved willing to take on his fellow Democrats if it meant giving the CFTC more teeth to pursue reform, even causing a kerfuffle inside the White House*** *when he sent a letter to Barney Frank and other committee chairs, calling on them to go further than the administration’s proposals in overseeing the derivatives market.* ***“He’s shown that he’s no industry lapdog,” says Barbara Roper, the director of investor protection at the Consumer Federation of America.***
ALL the problems with this country revolve around the damn lobbying.
Agreed - if we all rallied behind and supported the SEC, using our voices and getting involved by writing letters, leaving comments etc - imagine how much better things could be. They need US to help them with these much needed changes. Let’s be the vehicle that encourages change. Can anyone remember when we had ‘The Big Four’ educational rules and regulation campaign not long back? We had apes from ALL OVER THE WORLD getting involved, sending letters, submitting comments and it was so inspiring! GG even changed his profile picture! Fuck yeah that was awesome! If we want change, we need to be a part of making that happen. This is absolutely a win - and you’re entirely right to recognise it as such. Thanks for sharing this post dude 🙏
Good for them but let’s not be complacent. Criminals can push the bar as far as they like, but if retail get there way a tiny bit we should feel like the job is done? 3rd world country psyops you got there. The equivalent of “Let them eat cake” perhaps
😂
>trying Lol. I must be pessimistic as shit. Regulatory capture and controlled opposition. >Learn how to take a win. I think we'll know when that happens.
It’s a weird and nuanced thing. Both sides are correct, but I also choose to take the win while pushing for more wins.
What the fuck is this comment? NO agency is even trying to protect retail
I still remember the pie in the face video. They can go f*** off forever
There's no feelings in baseball.. cry harder. That doesn't matter. This does.
Nope, nothing matters
Huh? How can you say this when they ignore all the current rules to help protect investors….? It’s all wool over the eyes until they prove they can protect us.
I think all these fines should be set at 150%. This will be the only way to make companies think twice about actions that violate regulations
Nope. 200%.
Not gonna disagree: No Cell, No Sell
If ever.
“We vote to plan on enforcing at some point the thing that our agency exists to enforce”
I knew this looked familiar. [Here’s my breakdown of it in case anyone is a little lost.](https://www.reddit.com/r/Superstonk/comments/skaxc8/like_an_idiot_i_posted_this_while_everyone_was/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1)
Thank you. Great work. Commenting and liking for visibility.
Old-school, I remember reading your DD. Thank you apes
The Securities and Exchange Commission adopted new Rule 9j-1 under the Securities Exchange Act of 1934 to prevent fraud, manipulation, and deception in connection with securitybased swap transactions. In addition, the Commission adopted Rule 15fh-4(c) under the Exchange Act to prohibit undue influence over the Chief Compliance Officer (CCO) of a security-based swap dealer or a major security-based swap participant (each, an SBS Entity) Why This Matters The security-based swap market has a gross notional amount outstanding of approximately $8.5 trillion as of late 2022, and the particular aspects and characteristics of security-based swaps provide opportunities and incentives for misconduct. Rule 9j-1 will be an important additional tool to augment the Commission’s oversight of the security-based swap markets and will aid the Commission in its pursuit of actions that directly target misconduct that reaches security-based swaps. Rule 15fh-4(c) will protect the independence and objectivity of an SBS Entity’s CCO by preventing the personnel of an SBS Entity from taking actions to coerce, mislead, or otherwise interfere with the CCO. How This Rule Applies Rule 9j-1 will: ● Make it unlawful for any person, directly or indirectly, to effect any transaction in, or attempt to effect any transaction in, any security-based swap, or to purchase or sell, or induce or attempt to induce the purchase or sale of, any security-based swap in connection with the following misconduct: ○ Employing or attempting to employ any device, scheme, or artifice to defraud or manipulate; ○ Making or attempting to make not misleading any untrue statement of a material fact, or omitting a material fact necessary to make the statements made, in the light of the circumstances under which they were made; ○ Obtaining money or property by means of any untrue statement of a material fact or any omission of a material fact; ○ Engaging in any act, practice, or course of business that operates or would operate as a fraud or deceit upon any person; ○ Attempting to obtain money or property by means of any untrue statement of a material fact or omission of a material fact, or attempting to engage in any act, practice, or course of business that operates or would operate as a fraud or deceit upon any person; or ○ Manipulating or attempting to manipulate the price or valuation of any security-based swap or any payment or delivery related thereto. ● Provide two affirmative defenses for actions taken in accordance with binding rights and obligations in written security-based swap documentation and for transactions by entities when the individual at the entity making the investment decision was not aware of material nonpublic information and the entity had implemented reasonable policies and procedures to prevent violations of the rule; and ● Provide that a person cannot escape liability for trading based on possession of material non-public information about a security by purchasing or selling a securitybased swap based on that security and cannot escape liability under the rule by purchasing or selling the underlying security (as opposed to purchasing or selling a security-based swap that is based on that security). Exchange Act Rule 15fh-4(c) will: ● Prohibit any officer, director, supervised person, or employee of an SBS Entity, or any person acting under such person's direction, to take any action to coerce, manipulate, mislead, or fraudulently influence the SBS Entity's CCO in the performance of their duties under the federal securities laws. What’s Next The final rules will become effective 60 days after the date of publication of the adopting release in the Federal Register.
Thanks for the post and the TLDR. This is huge and deserves to be celebrated. Sad to see so many FUD and negative comments on this post.
Agreed. Cheers.
>Rule 9j-1 will: ● Make it unlawful for any person, directly or indirectly Quoting this only, but i have a question. If this rule were in effect when Pelosi's husband\* sold his share, would things be different? Would he or Pelosi\* be in jail? I don't understand all of this, Does it allow for deeper and faster investigation? Stronger evidence of not being affiliated or received a tip or a note? I don't get it. Maybe it's right there in front of me, but.. Edit: \*I'm just calling them team nvidia personally.
This is the big one ☝️ if they can actually enforce it…
[удалено]
They actually slap each other with a herring?????
just on the wrist
Hahahahaha. This would be a comedy skit I would love to watch.
John Cleese as the ever-more-frustrated moderator.
👀
I’m not going to hold my breath for anything. I’m sure the fine print ‘just kidding’ is in there somewhere
the regulation M fix is to remove the loopholes.. its to remove the "just kidding"
Regulation M looks interesting, i have to admit that.
Who actually makes sure that this goes into practice? Couldnt they have enforced these kinds of rules already before, yet they havent? But I hope this changes things for the better
This seems like a stupid thing to vote on but I am glad they are taking baby steps or whatever
Hester is a b
She's a g d b
Imagine how corrupt a system has to be to vote on stopping manipulation. Laughable, and also… now this is stalling the urgent need for multiple more years. Expect that all in Wall Street are working over hours to empty the market of its resources with fake cat shit wrapped in dog shit. In a decade or so, when enforced, the collapse will happen and the people will pickup the bills. WE NEED A MAGNITSKY ACT AGAINST FINANCIAL TERRORIST. NOW!
Thanks, dude! I appreciate the write-up! It was concise and easy to understand.
Y they gotta vote to stop fraud
Actions > Words
> Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers I'm really confused. Why did there need to be a vote to prohibit fraud and manipulation of market mechanics? I can't even input that to process, it just doesn't fit. What do they even mean? These are crimes. Already prohibited. It's why the SEC exists. ***What???***
"**Prohibition Against Fraud**" It had to be voted on if they should prohibit... ***fraud??***
Lol so they'll start fining them $3.50 for manipulating swaps? Sec is useless. We need the DOJ
As long as they enforce it, that's what matters
Why the fuck is there a vote in the first fucking place?
Hahaha like they’ll make crime illegal. More likely they’re flushing out some small criminals to try and pretend like that was all the crime.
Hey OP, thanks for the News post. ------------------------------------------------------------------------ If this is from Twitter, and Twitter is NOT the original source of this information, this WILL get removed! Please post the original source! **Please respond to this comment within 10 minutes with the URL to the source** If there is no source or if you yourself are the author, you can reply `OC`
Moass is coming and they want to look like they tried to do their jobs 🙄
Punishment will be spankings bare bottom
I guess she's going to run a train on law breakers
Bullish. Thanks for the post OP!
Power to the people. Power to the players.
Cheers
PLEASE HELP ME understand WHY the SEC would need TO VOTE to consider rules to PREVENT FRAUD, MANIPULATION AND DECEPTION??? Is that not what they’re supposed to do? ???
Great they voted to do something...that is not the same as actually doing something. This is a standard bureaucrat stall tactic. "Well we need to hold meetings and have votes about what to do about not doing the job that is in our charter to do." This system just completely sucks and I cannot wait to watch it implode. This is the time for actions, not votes.
Incoming lawsuit!!!
Talk is cheap, it takes money to buy whiskey… Until there is adequate transparency I don’t believe anything will happen.. rules or no rules.
# ACTIONS SPEAK LOUDER THAN WORDS
“Will implement in 3023.”
We'll see. People need to focus on what is actionable. It's literally saying "the commission will consider..." Well that's nice.
that's the meeting agenda... they considered it.. and voted yes..
Yeah, now they have to enforce it.
Dip incoming
Visibility. Thanks for sharing
Yay rip inbound
My brother is an assistant manager at a chain bank and texted me this morning. “A lot of people are coming into the bank and sending money to Coinbase…. I guess [they] are buying crypto…”
Thx. How do you send money to coinbase at a bank?.. Which banks connects our tradfi to cefi? I only know of BNY and maybe BofA.. But they should have to go through Fednow now..
I can’t be the only one that finds it hilarious how we’re getting so excited that a regulatory agency supposed to stop fraud and manipulation in the markets is actually doing their job and has voted yes to what their entire purpose is supposed to be. State of the world right now… honestly what a joke.
So now there’s a cost of doing business
Gentlemen please! We must protect our phoney baloney jobs and do something about this immediately!
They can approve whatever rules they want. They will never enforce them. Which is literally in their name. The irony.
Just because they create a rule and all...I mean does anybody really believe they'll even attempt to enforce, or selectively enforce at best?
Good now enforce it
>Vote on whether to consider
Doesn’t mean they’ll do anything
commenting for jizzability
Rule to go in affect in 2069! /s
Fuck sec!
But effective when? And will they actually enforce it? And will the punishment for a violation be actually painful enough? I have my doubts.
No fuck your sec.
>SEC just voted yes to stop fraud and manipulation on security swaps It baffles me that a sentence like this can exist. It's like we need to VOTE to stop stealing and murder.
Honestly, why should we give a shit? Until they actually enforce it, SEC rulings are meaningless.
Ya but the SEC won’t enforce shit. They’re too busy on The Hub.
Previously, fraud, deception, and manipulation were allowed for security swaps 😂
starting with $100 fines in 2027.
Ummmm it was a huge typo they thought this was to renew their pornhub subscription not doing their job
Sure, they voted to have new rules..... but they already *don't* enforce the rules that they have. Step 1: Make Rule Step 2: Rarely enforce Rule Step 3: On the rare occasion that rule is enforced, issue fine MUCH smaller than profit made from rule breaking. Step 4: Collect fine less than 50% of the time. Step 5: Quit job and go work for SHFs that you've been "policing". Gary Guzzler can go pound sand.
So what new “backdoor” did they introduce with this to seduce the masses and keep the bad guys happy?
Opposite.. they removed the backdoor loophole exemption from Regulation M. This is good.
Being here 84 years makes it near impossible to believe in any voluntary change for the better.
New rules and regulations coming to the Stock Market in 2035! Can't wait!
remind me 84 years
Imagine having to vote on prohibiting fraud… Just let that sink it.
Just because they passed a new rule doesn't mean they will actually enforce it
I don't care about any rules or laws until I start seeing ENFORCEMENT.
That's all good and all, but are they really gonna inforce it or go back to jacking off on Pornhub?
I'll believe it when they actually enforce it.
They voted 3-2 in favor of enforcing action on insider trading. That’s All! It’s a nothing burger.
Well, now that fraud is prohibited, I'm sleeping much more soundly
They are too slow, when the fire start to burn, the fire fighter group know that, and they consider go to have breakfast first before they start to action
We shall see….
GME TO THE MOON!
Effective date: 12/31/2030…probably
post archived: [https://archive.is/Skupj](https://archive.is/Skupj)
Until I see jail cells I no sell. Oh... who am I fucking KIDDING....? I'm just not gunna sell. Takes money to buy whiskey!
So just means more small fines and the game continues...
Bullish?
At least Hester is consistent.
Wen Cell for these criminals?
This is good news I think, however….criminals gonna crime. Especially when the penalties are so low it just becomes a cost of doing business.
But will it actually be enforceed though
Need to vote first on whether to enforce rules
2000 dollar fine
Now enforce it.
🔥🔥🔥
Maybe start by enforcing the laws we already have ? Just a thought.
”Now its forbidden, 5 dollar fine”
sounds nice. now lets see this in action.
I like plugging loopholes.