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johnnytech

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This is not a poll so much, as it is a request. Then come back here and submit YES on the poll. This is for both a subtle nudge, and data capture.

Don't vote just to see results. Click "View Results" to see any time.

Edit: Make sure you put Clinuvel's name in the company field. (I ignored filing out the company's registration numbers). We aren't complaining about Clinuvel, but put them in the company field anyway so they all get flagged together.

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From Johnny H
It would probably be better if it weren't cookie cutter, and instead in your own words. Some themes to touch upon:

-Losses. Be honest; the truth is more than sufficient, and you want credibility with the investigators. The larger your calculated losses, the more seriously they'll take the complaint. For me, I've easily lost $1 million on paper since October. Many of you have as well.

-Abusive shorting. Make it clear that what is occurring is not only unfair; it's illegal. Use descriptive terms like abusive and manipulative. Remember: you're not complaining because the share price is low; you're complaining because someone is manipulating the share price and it has cost you a lot of money. It's stealing.

-Make it clear that you suspect that it's naked shorting. It's highly unlikely that the shorters have entered into a lending arrangement for over 4 million shares. Clinuvel is a thinly traded stock, which is one of the reasons it was targeted.

-Make it clear what you want the outcome to be, i.e forcing the shorters to cover the shares by purchasing them on the open market, or banning them from participating in the market altogether.

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From JT

In the complaint form under "what outcome do you want?", I said shut down naked shorting:

1) Force uncovered naked shorts to be bought back, and

2) Force brokers to borrow actual shares on their books to loan to shorters, and enforce heavy penalties if broken. This is abused currently.

3) Force brokers to pay interest at the going variable money lending rate to any investor (retail or insto) who's shares were borrowed. This profit should be passed on to the borrower. If the broker keeps the interest without passing it on, it's not true actual price finding because the longers didn't get offset compensation and it skews the market price finding mechanism.

4) People whose shares were borrowed will be reported to on the history of their shares as being borrowed or not. (not just passive knowledge due to interest payments). And the loaner has the right to earmark their shares as unavailable for loaning. After all, it's their shares and they have a right to forgo the interest profit just like a bank has a right to not loan you money. This adds to sincere price finding.

5) Ensure that shares held in custodial service for overseas depositories are disallowed from loaning because this opens up double shorting of the same share. It is suspected this is strongly abused in Australia. This is similar to naked shorting and should be strongly penalized.
 
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