SEC stock loan disclosure plan won’t make markets more equal

The GameStop saga showed that securities lending is opaque. New rules are unlikely to improve things

GameStop branch, Manhattan
Congress called for transparency on stock lending after the GameStop short squeeze

“They’d just laugh at me,” says a former stock lender, recalling how he spent January asking contacts if he could borrow GameStop shares. “I’d call constantly and say, hey do you have this security?” Everyone wanted stock in the much-shorted video game retailer, but no one could get it.

Retail investors on social media platform Reddit were goading each other into bidding up the prices of “meme stocks” such as GameStop and cinema chain AMC, institutional investors were taking long positions and

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