April 21, 2022
SEC
The people pulling your strings want the SEC to abandon their mandate to protect investors and maintain fair, orderly, and efficient markets so you will rubber stamp yet another Rube Goldberg mechanism to subvert regSHO locate requirements.
Remember Your mandate isnt liquidity at all costs so Id remind you that fair and orderly markets need MORE locates and LESS borrowing: the SEC is literally moving the markets backwards if you adopt this.
Just because some market participants got themselves into hot water doesnt mean that the SEC should change the rules to protect them from consequences. You will definitely be pissing off other huge players and retail investors by changing the rules in the middle of this. Make the borrowers deliver on their promises instead of granting them overnight IOUs
If you do this the world will lose all faith in the markets causing the US to fall behind others not to mention the shit storm of lawsuits from hundreds of thousands of investors and groups. The EU will especially come after your ass for defrauding their consumers and elites that are on the other side of these trades. Remember Madoff and Skerili went down for ripping off the powerful investors and your about to do the same with this rule.
You had better not pass this or your in for a world of trouble that is not worth what ever they are bribing or threatening you with. This is not a threat just a warning to what is likely. This is just my opinion but you will see in your comments that MANY others agree with these sentiments.
Quickly reconsider your position on this before you cause irreversible damage to the market.