April 23, 2022
Dear Sir,
I am writing to express my utter disdain at this proposed ruling that appears to be nothing more than a get out clause for hedgefunds etc to absolve themselves of bad bets they have made against shorting securities. It is blatant that FTDS and short positions do not have to be returned or closed out and seem to run indefinitely at the expense of honest price discovery also at the expense of rule abiding retail investors. If you short a company and get it wrong then you should have to close that short and take the loss the same as a retail investor. Clearly the rules are stacked against retail and this is just another rule in the favour of what can only fairly be described as manipulating and nefarious hedge funds. The world in aghast at the lack of integrity of the us stock market as mentioned by a senior member of the BoE who stated I would not say it was dishonest but would question its integrity.
Its time for the manipulation to stop, its time to bring some integrity back to this market and its time for your organisation to stop saying it wants a fair market for all and actually create one. This rule should be voted down as a show that your organisation is not in the business of creating loop holes to allow hedgefunds to escape their liabilities. Retail do not get loop holes so neither should they. We want honesty for all. Make this happen and vote against this obvious protect the hedge funds clause.
Respect and regards
Mr h