April 20, 2022
The market already lacks transparency and accountability for large institutions. I am disappointed this rule is being proposed.
This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, as well as the deterrent of engaging in what is supposed to be very risky business practice.
It's all upside for market makers and brutalizes retail traders. Market makers excessively naked short securities, and this rule shifts all downside to those on the wrong side of their shorting. How does this rule contribute to a \"fair\" market by any means?
FTDs are already \"reset\" through a variety of methods such as using derivatives not allowing them to reach their 30 day mark where the security needs to be \"delivered.\"
This is very frustrating to see rules like this being proposed that only favor reckless institutions. Hopefully you'll consider the words of retail investors more with your decision making on regulations, as we've been educating ourselves a lot more over the past couple years.