Apr. 09, 2021
I would like to give my opinion on SR-NSCC-2021-801 from the perspective of an individual retail investor in the $60-$80k range. I believe this rule would be a step in the right direction towards accountability for those who engage in the short selling/stock borrowing of securities and investments. These activities are not bad on their own, but their opaqueness and "behind-the scenes" nature is detrimental to the public trust in the free market. It is time for an update to the current RegSHO closeout requirements and I believe that this SLD change in process from Monthly to Daily settlement is a step in the right direction. As such, it is my desire that this rule be implemented as soon as possible. I would additionally prefer to see stronger penalties enacted for non compliance and violation of this rule, as otherwise this will simply be rolled into the cost of doing business by larger firms. A level playing field is paramount to the success of the free market, and subverting or circumventing that level playing field should carry correspondingly serious penalties. I appreciate your time and consideration! Cheers, Aaron Friesen