April 20, 2022
I respectfully ask that the Commission throw out this rule in its entirety, and cease drafting any rules in similar veins of thinking. The creation of SFTs provides a new, unjust mechanism to avoid the significant financial obligations of Failures to Deliver for large investing firms and market makers. In no way does this rule substantially contribute to safer, freer, and more equal financial markets. It offers the guise of stability through offering another tool to \"can-kick\" responsibility for payment, and does nothing proactive in the interest of retail investors. Again, I urge you to remove this draft rule in its entirety. Thank you.