diff --git a/DD/2021-04-09-Summarized-Bullet-Points-of-atobitts-God-Tier-DD.md b/DD/2021-04-09-Summarized-Bullet-Points-of-atobitts-God-Tier-DD.md new file mode 100644 index 0000000..f58e346 --- /dev/null +++ b/DD/2021-04-09-Summarized-Bullet-Points-of-atobitts-God-Tier-DD.md @@ -0,0 +1,68 @@ +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/)