April 9, 2021
To whom it may concern
I'm a middle-class Average Joe that has recently made the decision to use some of my family's modest savings to invest for our future via retail stock trading. As I've come to learn more about the state of our market, its become sickening to know that the wealthiest individuals and hedge funds can manipulate the market at will with little or no consequences. If they get caught breaking the ethical rules set in place, their fine is pennies on the dollar compared to what they've already gained at the cost of retail traders.
I believe that NSCC-2021-801 would help negate the lack of scrutiny to hide the unethical and illegal actions by hedge funds, ultimately taking steps towards creating a more transparent and fair market. The passing of this rule would ultimately strengthen and stabilize the integrity of the stock market which would be more appealing towards retail investors that are afraid hedge funds will take advantage of them.
Assessing the risk of the members and demanding a higher Secondary Liquidity Deposit when members risk defaulting seems like the right decision. I speak for myself and my family when I say that we fully support this rule and it will benefit the retail investors (little guys) as well as the market as a whole. Hedge funds making billions unethically while little guys struggle has become normal and it is time to start changing this
Thank you very much for your time and consideration.
Regards,
A. Lamonica