Apr. 09, 2021
I am a foreign investor, but this rule will have an international impact, due to the wide-spread manipulation by certain hedge funds (Melvin Capital, Citadel Securities, and many others). Please make the right decision for the well-being of the market and for its legal status. My perspective on NSCC-2021-801 is that it needs to be implemented immediately. Currently, the integrity of the market is being eroded. The common man (retail investor) like me and my wife and kids are losing trust in the legitimacy of market. There needs to be greater transparency and accurate, up-to-date information, updated daily regarding the positions taken by Institutions, Hedge Funds, etc. Currently, there is broad speculation about how much GME has been shorted, how many synthetic shares have been sold, the murky transactions in Dark Pools, Failure To Deliver information, etc. This leaves the common man/ retail investor at an incredible disadvantage and VERY VULNERABLE to the market manipulation of these institutions. Please protect us. Please level the playing field. Please IMMEDIATELY pass and ratify rule NSCC-2021-801 with unanimous consent. And please immediately implement the use of this rule to accurately identify the legitimate numbers regarding GME--specifically the number of synthetic shares that have been sold, the real stats related to naked shorting and the FTD numbers. Currently it seems that there is enormous market manipulation and deceitful and misleading conveyance of these numbers. Please ALSO impose the harshest penalties for all manipulation or obfuscation of reported data. Current penalties are a joke, as the fines are utterly insignificant to these multi-billion/ multi-trillion dollar institutions. In fact, these fines are such a joke that institutions have flagrantly violated rules with full knowledge and intention--knowing that it will cost them a pittance in fines compared with the money they will make by violating the rules. The SEC should immediately approve of and enable NSCC-2021-801, and immediately implement this rule to bring begin restoring confidence in the market for the retail investor. Thank you for your time and please do everything necessary for keeping every move that affects the stock market legal and holding every institution accountable for any illegal actions.