What's going on moon gang, i am so incredibly excited to bring you this video, because we are going to be talking about some very, very, very important things. We're going to be talking about pfof payment for order flow being outlawed. We're going to be talking about the official reporting of short positions and finally, we're going to be talking about market makers going to prison if they break the law. Now i know me saying those things especially in succession probably makes you feel some sort of way, and i don't want you to be on the edge of your seat.

So let's hop right into it, but before that just so you know the market closed. Today july 28th amc was at 38.90, which was a gain of 2.34 and jimmy closed out at 169.12, which was a drop of 5.28 very quickly. Now, with ortex amc, they borrowed 2.18 million shares against it, which was a net of six hundred thousand. That puts the short interest just above fifteen percent utilization.

Eighty nine point: eight three percent shares on loan, probably now over 98 million in terms of gme, there was a net return of 221 000 shares that puts the shortages around 13.47 percent utilization at 42 and shares on loan, probably right around 8 million. Now that i got that out of the way, let's get into the meat of this video and let's talk about the bills that are being proposed now, i just want to clarify all this. These are bills. They are not yet in law, but they are being discussed by the u.s government system.

First of all, we'll be talking about three hr: four, six, one, seven, four, six, one eight and four six one: nine! Let's start this off with one seven, this bill to require the sec to carry out a study on payment for order flow to require the investor ad advocate of the commission to provide recommendations on payment for order flow and for other purposes. So basically, they're asking for an official study of what pfof is, what it isn't and its impact on our market at large. The sec commission shall carry out a study on payment for order flow received by brokerage firms for routing customer orders to market centers, including wholesale brokerages, alternative trading systems, internalizers and exchanges very quickly, wholesale brokerages, that's pretty much citadel securities ats. That's a dark pool! Internalizers! That's another fancy way to say: market makers and exchanges.

That's just lit exchanges. Overall, here's specifically they're going to be looking into many things. I just wanted to point out what i thought would be important to us, especially as the ape nation community they're. Looking into pfof arrangements conflicts arising from these payment arrangements, this second one.

I think this is potentially the most important like they're looking into the conflicts that it can cause and that's what a lot of people are like. Hey like this seems a bit weird. The extent to which execution prices for brokerage firms customers are reflective of the best available market price. This is another um.

I guess commentary against payment for order flow of like hey. We offer it better than the national best bidder offer, but it's really not - and this is what i've gone on about at like ad nauseam on my stream of they're, widening the spread and yeah, they can beat the mbbo, but it's not the best price. At that time, another big issue with payment for order flow, the impact of payment for order flow arrangements on customer trade, execution, quality steps firms are taking to mitigate or eliminate conflicts stemming from these arrangements, i mean this one's going to be interesting because i don't know If they're taking any steps, let's scroll down a little bit steps brokerage firms are taking if any, to limit how market centers use the brokerage, firm's customers, data and, finally, the extent to which brokers are surveying. Different market centers for best prices prior to routing specific customer orders, well, they're, probably not because they're getting paid to just send it to someone.

So i doubt that they're really surveying anyone so anyway, what this is and remember it's not in law. It's currently a bill and people are going to be looking into it, and hopefully we get something useful out of it, but right here, they're looking into the legitimacy and the efficacy of payment for order flow, is it a net benefit? Is it a net negative? I mean i'm in the camp that i think it's a net negative, but i'm happy that it's finally getting some true governing traction, because this is how progress is actually made. I know this isn't the exact change we want to see, and we want to see it now, but slow and steady is going to win this race at least we're seeing something. So once again, this is 4617 looking into pfof payment for order flow.

Now, let's move on to 4618 to amend the sec act of 1934 to modernize the reporting requirements under section 13f of such act and for other purposes. So the sec commission shall conduct a study to evaluate the standards and criteria used to determine whether confidential treatment shall apply with respect to an institutional investment manager for purposes of filing a report under 13f of the sec act of 1934. So i read that very quickly. You're, probably listening to it and you're like all right duck guy.

What are you talking about? What does this mean? Don't worry hang on. I can clarify this for you um. This came out today july 28th, and i just want to show this to you. This short sale, transparency and market fairness act, which is exactly what this is actually called short sale, transparency market fairness act seeks to address the problem of information asymmetry by providing the sec with the authority to increase the frequency of disclosures wall street hedge funds and other Large asset managers must make from quarterly to monthly.

It also expands the types of information disclosed, including derivatives. On top of that, i looked into it. It's also looking into the fact that hey should they be reporting their short positions, because right now, they're not they're. Only reporting their long positions and some other derivatives right here this one, the short, sale, transparency and market fairness act.

It's looking to make the cadence of these 13f reports uh, which really it's for anyone - that's managing over 100 million dollars to go from quarterly to monthly, and on top of that, it's saying, should they be reporting shorts. If you've been listening to me, you know i'm a big fan of that. I it blows my mind that i guess they made that decision. I don't know, maybe back in 1934.

I have no clue, but at some point someone made the decision short nah. We don't need to know about that. This, to my understanding, seeks to be fixing that, and i also um this quarterly to monthly thing uh. I would have to hear a little bit more of an academic argument on like.

Is that giving too much away of a competitive edge? I don't have a strong, strong feeling on the quarterly to monthly. My knee-jerk reaction is, it makes more sense that we should do it monthly, but i'd have to like dive a little bit more into it, but i am a massive fan of them having to report their short positions that that once again is 4618, the short sale, Transparency and market fairness act and finally, oh man, this one is a doozy to amend the s, the securities exchange act of 1934 to prohibit trading ahead of market makers and for other purposes. This is really, i guess, kind of ironic comedic, whatever you want to call it. One of my most recent videos, uh citadel caught, was talking about how they were front running against their own customers and making a lot of money at it, and at that time i think they were fined after out of like 500 plus trades, four of 100 of Them they were being front run like, as in the citadel securities, the market maker was front running their client uh 405, like almost 80, absolutely crazy.

They were only fine 700 000, but hang on, let's check out 4619 uh man to amend the securities exchange act of 1934 to prohibit trading ahead of market makers and for other purposes, so in general, with respect to a person acting in the capacity of a market Maker, if the person accept an order with respect to a security for a customer, including a broker or a dealer, the market maker has the duty of trust and loyalty to the customer arising from the receipt of such order. I think that's kind of funny saying trust and loyalty when we're talking about market makers, but i'm not going to digress. The information in such order is material, non-public information that may be used only in furtherance of executing such customers orders as in hey. If we catch you sharing this information with someone else, you can get in a lot of trouble and i'm talking a lot of trouble right here.

It's talking about ceo, so basically, whoever is breaking these rules. Not only are they accountable, but it could also hold the ceo accountable. You can definitely feel free to read this on your own time there, but anyway personal liability for individual violations, any associated person of a market maker who knowingly and willingly causes the market maker to violate the rules up here, paragraph one shall be fined in an amount Equal to or greater of two times the amount of profit realized by reason of such violation or fifty thousand, whichever is greater in my opinion. I think this should run up.

I think it should go two times next time, three times next time four times. I think it should just be a running count. Every time we catch you, we increase the multiple of which you are fine and then following this any associated person of a market maker who knowingly or willfully, causes the market maker to engage in a course of conduct of knowingly and willfully violating the rule that it Read above shall be fined in an amount not to exceed 200 of the compensation received by such associated person from the market maker during the time period in which the violations occurred or in the one to three year time period preceding the date on which the violations Were discovered and imprisoned for not more than five years, that's right! We are talking about prison time if the violations are actually there. So, overall, please understand when i'm saying this, this is through the lens of a person who has no official legal.

I guess education or anything like that, but to me i mean we're talking about 417 for 18 419, i'm pretty happy 419, specifically to amend the securities exchange act of 1934 to prohibit trading ahead of by market makers and for other purposes right there. It seems like i don't know, these are all bills that doesn't mean they're going to go into law. I very much hope they go into law, but right now i am then i am happy. I can't stop smiling because i think we, this is proof to me that our voices are being heard even more finally they're hearing the things we're talking about, and at least these are the baby steps of change.

Like i said earlier, i know we all want the changes very very, very rapidly, but that's just not how our justice and legal system work. So i'm happy that we're at least getting this, because it's better than nothing. So once again, a quick recap: 417 is looking into payment for order flow and seeing if it should be outlawed, uh 4618. This is all about more regular reporting of 13fs and seeing if short positions should also be reported and then finally 46 19.

This is all about really holding market makers, people that work there and the ceo accountable if people are getting front run and then it's laying out the actual punishment if they get caught overall, like i said, i'm happy with these, i hope that the bills finally turn Into law, but i just wanted to share it with you, because i'm sure a lot of you have been paying attention to amc, gme and are a proud member of ape nation. This is probably the stuff that, like this is what we've been fighting for and discussing and finally we're seeing a little bit of traction. Overall, you can see how the votes are going, the commentary on gov track. I will make sure to link all of these urls in the description of this video, but i mean just so excited to bring you this video.

This is awesome, awesome, awesome, stuff. Overall, i would love to get your thoughts in a comment below. Let me know your thoughts on all these rules: amc, gme, yada, yada yada. You know about all that good youtube, algorithm stuff.

If you want to help me out and until i catch you next time for me and chair best of luck in the markets, you.