Securities and Exchange Commission
The stated mission of the Securities and Exchange Commission (SEC) is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation[1].
The SEC has online resources related to protecting consumers
- Filing whistleblower complaints[2]
- Searching or subscribing to digital feeds of litigation releases[3]
Transparency concerns
The Fails-to-Deliver (FTD) data set is released at two-week intervals with a two-week delay [4]. As a result, the oldest data by the time of publication is already one month old. This intentional delay has an effect of reducing transparency for individual investors. The ability of FTD to be released at a significantly faster rate, has been evidenced by the accidental release of GME FTD on February 12, 2022, followed by the subsequent official release of the same data on February 28, 2022 [5].
There are numerous instances of FTD being redacted. In December 2024 the SEC denied Freedom of Information Act (FOIA) request regarding significant gaps in GME's FTD data around key market events with "foreseeable harm" standard as justification for withholding data [6].
References
- ↑ "SEC - About" - sec.gov
- ↑ "SEC Whistleblower program" - sec.gov
- ↑ "SEC litigation" - sec.gov
- ↑ "Fails-to-Deliver Data" - sec.gov
- ↑ "The new FTD numbers are identical to the numbers accidentally released two weeks ago, suggesting the @SECGov is artificially delaying public reports." - x.com
- ↑ "The SEC now rejects a FOIA request for missing GameStop FTD data" - franknez.com