Apr. 09, 2021
Hello, I am a retail investor and would like to share my opinion on some of the proposed rule changes, specifically SR-NSCC-2021-801. I believe it is imperative this rule is passed. For too long, certain short sellers have not faced accountability for their highly abusive actions in the market and this rule change is a step in the right direction. This change from monthly to daily settlement reporting process should start to help to prevent similar abusive actions in the market. In addition, I believe it is important to enact strong penalties for violation of this proposed change. A small fine will always be worth it to a criminal financier and that practice must be discouraged. As it currently is structured, they’re ENCOURAGED to commit crimes, because the spoils are much higher than the potential penalty (or as they say, “cost of doing business”). In conjunction with other rule changes I think this new rule will start to change that culture of criminality. Thank you for your time Thomas Nolan