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jopi888 t1_j9in0uy wrote

This is new?? I assumed they already did this.

317

postonrddt OP t1_j9incm0 wrote

The broker was required to keep the information until needed.

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L33n1xu5 t1_j9j3kjm wrote

e.g never

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texasinv t1_j9joayv wrote

FINRA already does this, a buddy of mine works there doing insider trading investigations. They have a record of all trades and who did them.

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Independent-Ad9095 t1_j9ksp84 wrote

So, is there like, any hope for justice? Regarding manipulative dark pool trading, spoofing, shorting with shares that dint exist? Asking for a friend🙃

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texasinv t1_j9lfgmf wrote

I think you're in the wrong country for that unfortunately.

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kbone213 t1_j9njvdy wrote

I think you mean wrong species. Name one country that isn't corrupt.

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texasinv t1_j9oj9en wrote

Nordics maybe? US isn't terrible mind you, at least I've never been shaken down for bribes during a traffic stop like Latin America or SE Asia. Our corruption is more subtle but simultaneously runs deeper via regulatory capture and lobbying. I still agree with "wrong species" though.

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kbone213 t1_j9poh2v wrote

Nordics are shaking the same hands as the rest of the scummy global politicians. We as a species fucked up and let the worst of us run everything.

1

sescobreezy727 t1_j9nhlvx wrote

Ask the EPA and the FDA.

I know way too many federal initials for us to have much hope.

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GenderDimorphism t1_j9n0fcv wrote

What does that include and what does that not include? Every Over The Counter trade as well?

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texasinv t1_j9oirwe wrote

I'll have to ask him. I'd assume yes though, or at least by request because that's often where the most obvious abuse happens. OTC biotech tickers and shit like that surrounding patent approvals and the like.

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jr1tn t1_j9j94qq wrote

Did you even read the article? The risk highlighted is hacking of the SEC database to unscrupulous malefactors. Reading is fundamental.

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F0urTheWin t1_j9jhsn5 wrote

Bruh, you might be in the wrong app. None of us know how to read here.

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sescobreezy727 t1_j9nhy7t wrote

Thank god, thought it was about to go all fundamental again.

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Intrepid00 t1_j9jzc2e wrote

> The risk highlighted is hacking of the SEC database to unscrupulous malefactors.

Oh noes, not my publicly made trades.

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TheYakster t1_j9imtqs wrote

Private trading companies already do this today and sell your information to foreign governments. So there’s that. We really need EU style privacy laws.

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ArchangelToast t1_j9iosdo wrote

Basically selling them information that my trades are regarded af.

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L1lelephat t1_j9iqwwq wrote

They bought your information so they could make your trades shit. It’s not you my friend, it never was.

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gnocchicotti t1_j9jmtz1 wrote

Let's hope some third world dictator copies our trades and goes bankrupt

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outofobscure t1_j9jr6ck wrote

but who's more regarded, the regard, or the regard that buys the other regard's useless trades

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sescobreezy727 t1_j9ni8vp wrote

Imagine being able to read the script on advertising to you.

1

Ok-Back-7999 t1_j9jdkfo wrote

Foreign governments can't arrest me if I don't go there so 🤷‍♂️ I'd much rather the Chinese know everything about me than the US govt.

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AssociationDouble267 t1_j9jqsy9 wrote

That’s only partially true.

https://amp.cnn.com/cnn/2022/12/04/world/china-overseas-police-stations-intl-cmd/index.html

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Intrepid00 t1_j9jz79l wrote

I bet he’s not a Chinese citizen.

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Ok-Back-7999 t1_j9k4owm wrote

I also bet I'm not

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AssociationDouble267 t1_j9m69s2 wrote

There was a case in England where a protester was dragged inside an embassy and beaten before being released. I think having no connection to China gives you a good measure of protection though.

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konstantinos2000 t1_j9jr9h5 wrote

Why would a foreign government care about a retail investor's trades, that may worth less than $100?

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ImAnonymous135 t1_j9l5b89 wrote

They gather massive amounts of retail data and build models with it. They can then use AI to study the data and help them fuck iver retail much easier

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Expensive_Web_8534 t1_j9lhb65 wrote

AI. Foreign Governments. Massive data. Machine learning models.

Boo.

Are you scared yet or should I say a few more scary phrases?

Hedge funds.

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AnonymousLoner1 t1_j9lne96 wrote

$100 to foreign governments is worth a lot more, especially if their own currency is that much weaker.

Not much different than "Nigerian prince"/"car warranty" scams.

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badgerbacon6 t1_j9l4bpd wrote

I noticed social media ads relating to my trades & figured as much.

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mumike t1_j9ixayf wrote

I'd rather be able to exercise my privacy laws whenever I want, thanks.

−2

sescobreezy727 t1_j9nijlj wrote

2000 karma. Plenty of clue’s I’d imagine.

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mumike t1_j9nir5l wrote

I was just making an American vs Euro style options joke :(

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sescobreezy727 t1_j9nj7z2 wrote

I took my instagram off my Reddit account earlier. Highly regarded.

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mumike t1_j9njccl wrote

I have no idea what you're talking about man 😂

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sescobreezy727 t1_j9njp5b wrote

Exercising Privacy. Sorry to prod at you, gave your votes back (:

1

mumike t1_j9njrzf wrote

I still see your ig on your profile.

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sescobreezy727 t1_j9njuye wrote

Don’t you dare, Wouldn’t let me delete it, so I changed it to @whoops.

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mumike t1_j9njyf7 wrote

I already clicked it and looked at it and I can see it if I think about it. Trucks and mud. You can't take that from me now.

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papejay88 t1_j9irt22 wrote

Call me ignorant but I had pretty much assumed someone was tracking my trades and putting them in a giant database to use against me if I ever started to be successful. Just another case of the man holding a man down.

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sescobreezy727 t1_j9ni4a4 wrote

Oh yeah, but it wasn’t centralized.

These things always get smoothed out until they are seamless.

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L33n1xu5 t1_j9j3ozx wrote

The SEC isn't going to track YOUR trades, they're going to track your broker's trades.

The article is fearmongering making you think this is a bad thing so you can get outraged and ask the SEC to stop monitoring "your" trades. Finally, maybe something will come of this.

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OfLittleToNoValue t1_j9jf6dx wrote

This is all hilarious bullshit.

They're acting like knowing I bought spy calls is a threat to my freedom.

This is how the rich convince you to fight things they don't want.

Like how many broke as fuck rednecks do you know with oddly impassioned feelings on estate taxes?

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iPigman t1_j9jolq3 wrote

But, but, but , muh def tax!!!11!!

I don't know of any "broke ass" rednecks, but I do enjoy their gesticulation in front of the Media.

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wickedmen030 t1_j9jwqwd wrote

I don't care. I just don't like a state that knows everything i do or where i have been. People will break up with there partner for this but will simp for a state or big tech doing this.

0

oboshoe t1_j9ka9up wrote

the step from tracking broker trades to individual trades is pretty trivial.

simply require the broker to include a few extra fields to include beneficial owner data.

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Negative-Mood t1_j9leqcy wrote

Then they can tie the shell company trades to the beneficial owner as well and we will have our own Panama Papers to review.

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Negative-Mood t1_j9lef4c wrote

I love the large volume price swings that happen the day, or days, before news is publicly available. We all know that is insider trading, but SEC rarely does anything about it. Maybe now the will.

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Okbutbushdid711 t1_j9m5490 wrote

Do you really think the government will become more competent? Theyll probably just have a data center that will have thousands of Petabytes of data in it that will never get looked at until we have quantum computers and the need to target someone

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Negative-Mood t1_j9nk4kf wrote

At least now their agents can use it to investigate reports by whistleblowers and others who notice the behavior. No, I do not believe they will actively monitor for suspicious trading patterns and use the database to actually crack down quickly. Government and bureaucracy moves very slow, and is always at least 10 years behind abuses of technology.

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AnonymousLoner1 t1_j9lm314 wrote

You mean like how other laws that's supposed to regulate the big guys somehow get turned against the little guy instead?

They don't even enforce the laws we already have against the big guys, only when it's OUR trades.

Keep hopemongering.

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megdoo2 t1_j9iqcso wrote

They should just track the hedge funds and stop allowing them to manipulate the market

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postonrddt OP t1_j9iqouv wrote

Exactly and have probable cause to pull and analyze private trading data.

Mutual fund companies need eyes as well

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VisualMod t1_j9im8v3 wrote

>The SEC's new database is a clear violation of privacy and an infringement on the rights of investors. This will allow the government to track and monitor all stock trades, which is a step towards total control over the financial markets. This is bad news for freedom and liberty.

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v270 t1_j9jtfdj wrote

Then go back to trading Pokémon

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kryptokronix t1_j9iq2if wrote

They might actually feel bad for some of you idiots.

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Okbutbushdid711 t1_j9m5skw wrote

I highly doubt any government organization gives a damn about us. Probably a data grab that will somehow be used to benefit MMs.

Oopsiedoopsie the Sec left the hard drive after JPMs CFOs holiday party

2

darkspd96 t1_j9in6to wrote

Probably datalake, not database, will be far cheaper

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Nap-rays t1_j9jc3fi wrote

I was running a project and the client insisted their project was innovative and bigger than a datalake. They called it a data ocean.

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Bronek0990 t1_j9izlco wrote

Does that mean they can just fill my tax forms for me and just send me a copy?

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jr1tn t1_j9j998v wrote

It's an SEC database, not IRS. Did you even read the article?

−4

Bronek0990 t1_j9jaob7 wrote

They could submit from SEC to IRS.

−1

jr1tn t1_j9jbvbf wrote

You are kidding, right? You can't even change your address on line on the IRS web site. The WSJ reported this month that the legacy code the IRS uses is so old, they can't even find people that are still alive that know it, since it dates from the 60s and 70s.

−1

iPigman t1_j9jp2oa wrote

Dude, it's COBOL; it ain't that hard.

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Bronek0990 t1_j9k66w0 wrote

Yes, I am kidding. There's a snowball's chance in hell that anything the government does makes your life easier.

Even though I'm 90% certain an intern should be able to code some spaghetti that would work for most wsbtards.

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mike_from_here t1_j9k7ir6 wrote

Count on 18,000 database entries for me for a net profit of $.43

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Knarz97 t1_j9ng275 wrote

Wait, it’s posible to make profits? Don’t lie

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wallstreetbetsdebts t1_j9j3tie wrote

Somehow this will fuck over retail traders

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SoManyThrowAwaysEven t1_j9jzp84 wrote

The fact that the media is reporting this as a BAD thing means it's probably good for retail.

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pandalocox t1_j9ivsyq wrote

Will my -95% on my port be track as well ??

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EverVig47 t1_j9jn365 wrote

what good is tracking every stock trades when SEC does selective prosecutions.

- Congress - nope.

- Feds - nope.

- daughter of his favorite professor at the university - nope.

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Inevitable-Till-639 t1_j9ir4b2 wrote

It’s called a blockchain. There your welcome. This will make your job easier.

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Neopabo2 t1_j9isj05 wrote

My thoughts exactly. Sounds like T Zero

1

RyHenZen t1_j9j77fh wrote

This how you create a highly regarded AI tool.

2

Sbul26 t1_j9k6has wrote

I’m a highly regarded tool with much more A than I

0

VisualMod t1_j9im8g2 wrote

User Report
Total Submissions 1 First Seen In WSB 4 minutes ago
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Account Age 6 years [^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.) [^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
1

Neopabo2 t1_j9isc3p wrote

T Zero is the only tech they can use, no?

1

vacityrocker t1_j9itl03 wrote

The entertainment never stops in this fuckin place

1

cletus_ t1_j9j8kb0 wrote

I thought after bernie, they might be doing this to some extent if they knew what was good for them. I mean, bernie wasn’t making any trades, this information was plopped in their lap and they didn’t do shit sooooo. Anyway.

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trade_or_bust2023 t1_j9j9x84 wrote

surprised they aren't doing this already but this seems like a class action lawsuit waiting to happen. Great way to bust congresspeople on insider trading though.

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iPigman t1_j9jp9dv wrote

Those won't be the targets, I can assure you.

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trade_or_bust2023 t1_j9mt2s6 wrote

yeah they are probably going after money laundering. Just seems like it would be very costly and data intensive without enough benefit to be worth it but since its the government they don't really need to make profit. Imagine if they did the same thing for all bank transactions

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[deleted] t1_j9k2375 wrote

[deleted]

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trade_or_bust2023 t1_j9mse1k wrote

no there isn't its just that they seem to get away with it more. There are some members who have been indicted on insider trading. There's a 2012 stock act that purposefully targets members of congress to not trade on insider info even though insider trading was illegal already.

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dens09dews t1_j9j9z1e wrote

Aren’t the SEC the ones who could have foiled Madof much earlier with direct evidence provided by Madof and they still fucked it up for decades after that..

1

hiricinee t1_j9jaba8 wrote

Can they release my trades to me to make my taxes easier?

1

motoevgen t1_j9jag7d wrote

So would Citadel get img?

1

Rim_World t1_j9jjao5 wrote

We'll just call 99 percent of these trades, "dark pool". It's tracked alright

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tjonesmachine93 t1_j9jmvig wrote

Unless you are trading in a retirement account, the IRS sees all my trades at some point anyway. So who cares?

1

iPigman t1_j9jodm9 wrote

So they can laugh at my bungling of the trades?

1

VegaGT-VZ t1_j9jsawv wrote

SEC can barely keep up with actual fraud so WSB's trades are safe

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Rare-ish_Bird t1_j9jsnjg wrote

As long as its just static data analysis and not real time evaluation of my trades, I'm ok with it.

I don't need anyone else telling me I'm regarded.

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whatsariho t1_j9juclk wrote

oh no the SEC will know how regarded I actually am

1

goran0707 t1_j9jve4m wrote

So they can see how terrible my trading strategies are!

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gammaradiation2 t1_j9jxphf wrote

Joke's on them, I dont have any money left to trade.

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natu91 t1_j9jzbdw wrote

They identify the real fortune tellers.

1

Temporary-Voice8174 t1_j9kgiov wrote

I’ve received letters from them several times. Asking me if I had a brokers license? Asked me my profession and answered it with domestic Goddess. Never heard back.

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Ok_Teacher_6834 t1_j9kl8mk wrote

Sounds like the sec got hold of an ai to make sense of all the data

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awesomedan24 t1_j9kq3ci wrote

They are only monitoring outsider trading

1

JennItalia269 t1_j9ksgdw wrote

This writer is nearly three years late to the party.

1

gaflar t1_j9kxv9n wrote

Perhaps they could store the trades in some sort of chain made up of individual blocks?

1

sQGNXXnkceeEfhm t1_j9kz5m2 wrote

HOLY SHIT CAT IS FINALLY HAPPENING?!?!?!

Guys this is really really REALLY GOOD for us, and really really really bad for citadel.

Edit: I seriously cannot believe finra ever allowed this to get finished hahahahahah

Edit 2: the point of CAT is to allow the SEC to reproduce and analyze market conditions after the fact. When the flash crash happened they realized the data to actually understand what actually went down did not exist in enough fidelity.

Edit 3: it also is required to even begin to hold really sophisticated firms available for doing shady things with order flow.

1

__Sky_Daddy__ t1_j9l1j3x wrote

So insider trading is still legal u til march. Got it

1

1600hazenstreet t1_j9l4zeh wrote

Great, so the SEC will see how regarded I am with my trades.img

1

MrBojangles09 t1_j9l5iih wrote

Will they have records of congressional members with inside trading too ?

1

mxcain123 t1_j9l89za wrote

CAN THEY TRACK ALL THE FRAUD AND MUNIPULATION AND DARK POOL???????

1

TheDudeAbidesFarOut t1_j9liusk wrote

Will this stop the brokerage from trading against investors?

1

JeffersonsHat t1_j9lwbky wrote

So we should be bullish on the cloud services the SEC gets.

1

dumpitdog t1_j9ma1l2 wrote

I would love to see them track your actual basis price so I don't have to figure it out. The government sends me my basis price I'm okay with that. What I'm sick of is the fact that I pay so much taxes and I know a bunch of tax evading assholes that don't. I had to form a corporation just to keep from getting eaten alive by taxes because nobody else pays them.

1

Teroch_Tor t1_j9mc1wu wrote

The best way to put a stop to this is to build a bot that can obfuscate the data to the point that it becomes impossible to track anything by making 100s of trades every few seconds, and I mean trades that might gain or lose a few cents

1

bgd73 t1_j9mcolf wrote

don't see a problem. SEC actually cares about us, FINRA just regulates the broker.

I like it. SEC getting some authority.

it must be needed. Nobody in the market wants more complexity.

the tech age is incredible however. It must be making it possible.

those claiming privacy.. we are already known anyway, every move.

1

seanrbrantley t1_j9mmjd8 wrote

Aren’t they like 100 years too late

1

Flordamang t1_j9mnna2 wrote

I know a retail trader who was investigated by the SEC after a very lucky trade about a decade ago. There is no way the SEC doesn’t already collect data on transactions. Right now It’s likely only at major price or volatility inflection points. They are probably using ML to catch insider trading now. Quite concerning

1

FoxTheory t1_j9mo5k3 wrote

If they don't do this how do they ever catch insider traders lol. I know the cra fucking called me up pretty quick when I didn't file the year I made 48k in the market

1

t0fus0up t1_j9myyyi wrote

How about trades are recorded on the blockchain ;)

1

DesertDouche t1_j9n0i9w wrote

Funny. The biggest violators of insider trading is Congress. They do it blatantly, out in the open.

1

https_Big_T t1_j9n25lz wrote

Someone watch Nancy, she might have another trick up her sleeve

1

SavannahCalhounSq t1_j9n3qtm wrote

Every year for 'Taxable' accounts the brokerage firms have been reporting every trade. Maybe they are planning to add 401K's, Ira's and Roth's to the reporting requirements. This could f'k me up with all the wash sales I've been hiding by buying back in the wife's account.

1

AZ-Trader t1_j9n6ex6 wrote

To anyone who either hacks it or is in the SEC trying to copy my trades. I am not a professional, day trading is risky and 99% of day traders fail. I assume no liability for your guaranteed losses.

1

wlidebeest1 t1_j9nghpz wrote

The SEC had to get rid of their porn stash and just realized they could get a goldmine of loss porn to jerk off to instead.

1

sescobreezy727 t1_j9nhdcv wrote

Robinhood programming most certainly changed this week.

1

RussianCrabMan t1_j9kdk5k wrote

That's actually a good thing... coming from a "Don't Tread on Me Guy" here. Do what needs to be done to keep my brokers accountable for anything fucky wacky happening.

Also, can any cute twinks in PGH hit me up?

0