Securities and Exchange Commission
Contents2
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| Basic information | |
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| Legal Structure | Government Agency |
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| Also known as | |
| Official website | https://www.sec.gov |
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]
Concerns
On February 6, 2025, the SEC has granted a temporary exemption from compliance with Rule 13f-2 and Form SHO reporting, pushing the compliance deadline to January 2, 2026.[4]
This delay means that information about large short positions, which could signal market manipulation or instability, won't be available to the public for another year. This lack of transparency puts individual investors at a disadvantage, as they won't have access to data that could help them make informed decisions.
The Fails-to-Deliver (FTD) data set is released at two-week intervals with a two-week delay [5]. 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 [6].
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 [7].
References
- ↑ "SEC - About" - sec.gov (Archived)
- ↑ "SEC Whistleblower program" - sec.gov (Archived)
- ↑ "SEC litigation" - sec.gov (Archived)
- ↑ Order Granting Temporary Exemption Pursuant to Section 13(f)(3) of the Securities Exchange Act of 1934 from Compliance with Rule 13f-2 and Form SHO (Archived)
- ↑ "Fails-to-Deliver Data" - sec.gov (Archived)
- ↑ "The new FTD numbers are identical to the numbers accidentally released two weeks ago, suggesting the @SECGov is artificially delaying public reports." - x.com (Archived)
- ↑ "The SEC now rejects a FOIA request for missing GameStop FTD data" - franknez.com (Archived)