Jun. 27, 2021
From: Jarrod Knudson
Sent: Sunday, June 27, 2021
To: Rule-Comments <Rule-Comments@SEC.GOV>
Subject: SR-DTC-2021-011
To whom it may concern:
Regarding the proposed system disconnect rule : this appears to imply that the DTCC wants to reserve the right to disconnect insured participant(s) from their system temporarily and allow other participants - themselves included - additional time to liquidate and settle assets before issuing a disconnected participant a margin call - thus having little to no assets remaining to liquidate and back as collateral.
This would guarantee DTCC a win-win scenario and absolve them of all legal liability and financial obligation for a criminally reckless participant's actions if proposed rule 011 were to pass.
The "Major Event" happened in January to a certain security and procrastiating in hopes to pass rules before covering a participant's positions for a historical event is, in my opinion, theft and fraud of all individual investors and more importantly - the American people that bet against the unnamed participant.
This proposed rule is bogus and I'm not selling.
Sincerely,
Jarrod Knudson