April 21, 2022
To whom it may concern,
My family and I have been investors for many years in the US markets. This have afforded us some opportunities to live comfortable lives. However there are other investment options that will allow us to continue investing than the US markets.
The dynamics that are at play in the markets have been specifically designed to allow some individuals to exploit retail investors and skirt around the market regulation by continuing to add complexity to suit their needs.
SR-NSCC-2022-003 Is allowing them to attempt to do this again. Allowing participants to sponsor membership to their friends that will hold overleveraged FTD for them while they continue to exploit the market conditions is not only Not friendly to retail investor but I would consider predatory in nature.
FTDs are bad. Plain and simple. Your organization knows it, I know it, Market Makers know, hedge funds know it but they are attempting put a rule in that will allow them to sponsor a friend to enter the membership to hide more of it.
This is bad. It sends a message that if they continue to add more complexity the markets will allow these bad actors to continue to exploit companies, retail investors and at the end of the day the global investors community. The complexity needs to stop, be role back to where FTDs are closed, Naked shorting is abolished, Shorting is limited to 1 physical share and capital formation is returned to what it was meant to be. From the investor to a company that they believe in their mission and objectives.
These dynamics have had a spot light shone on them and will continue to be exposed.
SR-NSCC-2022-003 and any related types of rule proposals should be immediate thrown out now and in the future.
I \"do not support\" this proposed rule.
They are ruining the markets you are sworn to protect.