Apr. 09, 2021
I am writing you today as an individual "retail" investor to express my opinion regarding the proposed rule SR-NSCC-2021-801. If enacted, I believe this rule is a step in the right direction towards accountability for those who engage in the short selling/stock borrowing program, and while the original goal of the process has been to provide additional liquidity to the market, I feel that obfuscatory practices addressed by this rule change have been detrimental to the market and the American people as a whole. The current RegSHO requirements for closeout are definitely in need of an update. I believe that a shift from Monthly to Daily settlement proposed would be immensely positive progress, and will help maintain/restore faith in the American markets. I believe this rule should be passed and implemented immediately. I also believe stronger penalties enacted for non-compliance and violation of this rule are beneficial both to the regulated markets as well as the regulatory bodies. I greatly appreciate your time & consideration. Sincerely, John R. Smith