April 27, 2022
I would like to respectfully express my vehement opposition to SR-NSCC-2022-003. This rule is an obvious attempt by brokers, funds, banks and institutions to launder illegal naked shorts and FTDs. To approve this rule would be allowing these parties to further circumvent responsibility/accountability which I find reprehensible. This rule would further suppress market transparency giving brokers, hedge funds and banks an even greater advantage over retail investors when the existing advantage is already abusive and extremely threatening to the stability of the financial markets. The SEC cannot in good conscience approve this rule, which essentially allows hundreds of billions of dollars to remain unpaid while retail investors and retirement portfolios hold the bag. Good people should NOT be held responsible for the irresponsible financial decisions of banks and funds. It is time to level the playing field and hold all parties accountable for their decisions no matter how catastrophic the repercussions. If Citadel owes over $65 Billion \"in securities sold, not yet purchased, at fair value\" (per their 2021 statement) they should be held accountable to suffer the consequences of what may come. Full stop. 003 is a hard pass for me. I implore the SEC to do the right thing and VOTE NO on 003.