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It appears that the UK Government has released a draft statutory instrument as part of the process to change Short Selling Regulation.

During its tenure as a European Union member, the UK followed the regulations outlined in the EU Short Selling Regulation. However, following Brexit, the UK government - led by PM Rishi Sunak, formerly associated with Goldman Sachs - is actively engaged in revising and amending these regulations.

UK PM - Rishi Sunak, ex-Goldman Sachs.

The emphasis within the proposal is on tailoring the rules to better suit the post-Brexit financial landscape and address specific considerations that may arise in the UK's evolving regulatory framework....

However - as you may well expect - skepticism looms, fueled by widespread mistrust in the government's dedication to the public's best interests.

There's a prevailing sense that these moves might be more about self-serving motives than genuine concern for the people and given all we have uncovered with the efforts as put forward by the UK Digitisation Taskforce, and how little the UK Government have done to champion public inclusion - it's hardly surprising.

That said, let's not judge a book by it's cover.

Let's check it out:

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UK GOV page here: https://www.gov.uk/government/publications/short-selling-regulations-2024

Short Selling Regulations 2024 – Draft SI

PDF, 181 KB, 9 pages

Short Selling Regulations 2024 – Policy note

PDF, 139 KB, 18 pages

Here's the Draft SI -

https://preview.redd.it/qje0arh5sxhc1.png?width=5040&format=png&auto=webp&s=a628e8e3c339320d4df225a1b2084de7503b5316

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Policy Note: Short Selling Regulations 2024 – Policy note

​

https://i.redd.it/lempbulmsxhc1.gif

This does a good job of giving us a heads up. And think it warrants a follow up deep dive post of its own - but if any other apes out there wanna take it and run, it would be awesome to crowd share some information together.

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Policy Note: Short Selling Regulations 2024 – Policy note

Looks like there's something up, right?

This is not a deep dive post but the opportunity is for all of us to look at this with fresh eyes and see if we can't discover something here together.

With note to the following outline as left at the bottom of this page:

https://preview.redd.it/vc5kx7u9kqhc1.png?width=1400&format=png&auto=webp&s=7ea4f841140c734bd93463ea3746f12a1ce8c29e

So, the bad news is that the deadline for 'technical' comments ended on 10th January 2024...

But the good news is that:

1. This is still just a draft, so nothing has been finalised yet.
2. Public input remains essential at every stage, regardless of deadlines or how comments are categorised. Nothing holds more significance than upholding democratic representation.

Our government's role is to serve us.

Our participation isn't bound by deadlines, our engagement should consistently take center stage as an integral part of our collective governance. Engaging with government initiatives should be an ongoing commitment, reflecting the active involvement of the public in shaping our shared future.

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It's just a little bit frustrating that all these rather important rules consistently go under the radar.

If only our governments felt the need to raise attention to such important issues, opposed to letting them slip through unnoticed...

But then again - given all that we have uncovered recently, such as the UK Digitisation Taskforce's recent recommendation to mandate the legal ownership of shareholder assets to a CSD, achieved by changing primary legislation, essentially forcing shareholders to become the beneficiaries of their own stock... (more detail here)

https://www.gov.uk/government/publications/digitisation-taskforce pg. 23

Or the news that Economic Secretary Bim Afolami (as part of the RRG) & Tracy Blackwell, CEO of the Pension Insurance Corporation are teaming up as they petition to issue themselves "Significant Power" over our financial regulators....(more detail here)

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Perhaps they see our input as "public interference" 🤷‍♂️

But we remain steadfast as we strive for positive change, contributing to meaningful differences in our financial markets and look forward to the opportunity of dissecting these proposed rule changes and learning more about the UK's plans for the future of short selling regulation.

So let's explore what unfolds next in this captivating chapter of the GME saga.

💪 🚀🦍

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