Apr. 09, 2021
To whom it may concern, I strongly support passing Rule SR-NSCC-2021-801 I am a retail investor. My faith in the US economy and justice system was shaken in 2008. I feel that most of the organisations/individuals who created three crisis did so because they knew that rules were lacking - and even worse, they knew how unlikely pre-existing rules were to be enforced. And, in my mind, they were (unfortunately) right. One. One individual jailed for one of the biggest American financial injustices to date. Now I feel that stock markets, whilst different from the housing market, are still to this day being blatantly manipulated via institutional short selling. I am fed up with predatory institutions arbitrarily choosing companies to target with hopes of "bankruptcy jackpot"ing (short selling a stock to such an extent that their actions causes other investors to panic sell, and a perfectly functional company with much work put into it fails). Rule SR-NSCC-2021-801 is a step in the right direction, with the decision to recalculate and rebalance SLD on a daily basis improving the stability of the stock market. At this point, my faith in the American markets is pretty much non-existent. I'm sending this in the outside chance that it'll make the smallest positive difference. But I hate to admit, I genuinely don't think it will. History has shown time and time again that big players make their own rules in the market, and the miniscule fines they get are just a small cost of carrying out extremely profitably shady business actions. I sincerely hope that not only Rule SR-NSCC-2021-801 is implemented, but that the way in which these rules are enforced is overhauled, and that those who harm retail investors, companies, and the American economy come to realise that their actions have meaningful consequences that will happen to them when rules are enforced. Sincerely, John Travers