Apr. 09, 2021
To Whom It May Concern, I support this rule and believe it is a necessary, welcome change. I understand that short-selling is looked upon positively for the way it increases liquidity, but it seems that it has been abused and overused with apparent impunity. Greater consequences and accountability should improve the situation. Most importantly, it's far too opaque. While it may be true that it's bad for the market for entities to share their secret formula, there is way too much going on under the surface, and intentionally so. Currently, it appears that the penalties are not disincentive enough for many firms and funds as the profits are so much greater. Fines should not be simply looked at as the cost of doing business. Firms should feel the weight of their risk and be accountable for their actions in the market. The free market is great, but free does not necessitate a lack of fairness and openness - in fact I would argue fair, open, and free should form the triangular support that underpins the whole thing and instills confidence in investors and all participants in the US and global economies. I reiterate that I fully endorse this change and feel something of this nature is long overdue. Thank you, -- Matt Kelly