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Bullet Points
=============
| Author | Source |
| :-------------: |:-------------:|
| [u/atobitt](https://www.reddit.com/user/atobitt/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/mnrxau/bullet_points/) |
---
[Education 👨‍🏫](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%22&restrict_sr=1)
To whom it may concern,
The following represents a summarized narrative from my works cited below. I write out of concern for the continuity of our financial system. Most importantly, to illustrate the injustice that it allows.
- Hedge funds and offshore entities are *NOT* required to disclose most of their financial information- including short positions
- Citadel Securities is a market-maker for Citadel Advisors (hedge fund). They are considered a significant player within their environment. Citadel Securities has registered with the SEC and FINRA since 2002
- Investors rely on the SEC and FINRA to make sure these entities are not adversely affecting our markets, which are heavily regulated
- However, since 2006, FINRA has caught Citadel Securities breaking the rules in 60 separate events. Here are the facts:
- There is an event for almost every year since 2006
- Several violations span multiple years, with just 1 written violation
- The phrase *"without admitting or denying"* appears 123 times on a [182 page PDF](https://files.brokercheck.finra.org/firm/firm_116797.pdf)
- The phrase *"failed to"* appears 218 times. Here are 4:
- FAILED TO ESTABLISH AND MAINTAIN SUPERVISORY SYSTEMS TO ACHIEVE COMPLIANCE
- FAILED TO IDENTIFY A SHORT SALE INDICATOR
- FAILIED TO DISPLAY CERTAIN OTC CUSTOMER ORDERS
- FAILED TO CLOSE OUT A FAIL TO DELIEVER
- The word *"prevent"* appears 102 times. Mostly in statements such as:
- PREVENT THE EXECUTION OR DISPLAY OF SHORT SALE ORDERS
- NO SUPERVISORY PROCEDURES TO PREVENT THE ENTRY OF ERRONEOUS ORDERS
- RISK CONTROLS FAILED TO DETECT AND PREVENT
- On March 25th, 2021 CITADEL RECEIVED A NEW CITATION FOR:
- "unintentionally" reporting internal transfers as normal securities transactions. This constituted 14% of all reported transactions
It is apparent that the disciplinary actions- often a small fee- are not adequate to prevent this type of behavior. Furthermore, they have become a cost of doing business as is apparent through the company's indifference in admitting or denying the action.
As a citizen of the United States and direct participant within the US stock market, I demand the SEC explain *WHY* these actions are being tolerated.
For those of you who feel the same, please attest by signing your Reddit username in the comment section below
____________________________________________________________________________________________________________
I give the reader of this document my express permission to redistribute as they see fit.
*Works cited: Under the security of my 1st amendment rights,* *I will not* *change the syntax of my work because my emotions are baked within their message.*
1. [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/)
2. [The EVERYTHING Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/)
3. [Walkin' Like A Duck](https://www.reddit.com/r/Superstonk/comments/ml48ov/walkin_like_a_duck_talkin_like_a_duck/)