April 20, 2022
I commented on the notice for this rule previously. The rule is an affront to everything the SEC stands for. It absolutely does NOT prophecy retail investors. In fact, it gives carte blanche for the NSCC to circumvent the current rules surrounding FTDs, and allows them to provide unlimited \"liquidity\" to sustain margin for any of their friends. This rule is a slap in the face of democracy and civilized society. Do NOT pass this rule under any circumstance. They've been trying to pass the same rule under different guises, which should lead to disciplinary action against whoever keeps trying to push this insanity. There are rules around failures to deliver for this very reason, shares can't be rehypothecated to infinity. If you pass this rule, you will be aiding in the theft of value from every long position. You will also be aiding in corrupt practices, such as illegal naked shorting, shorting and distorting, corporate espionage, and fraud. Not only that, you'd have millions of retail and institutional investors potentially boycotting or suing the SEC and NSCC for allowing indiscriminate shorting of their long positions whenever the NSCC wants. DO NOT PASS THIS RULE, IT IS NOT IN THE BEST INTEREST OF RETAIL OR FREE FUNCTIONING OF THE MARKET.