Apr. 20, 2022
Hello, Thank you for taking the time to acknowledge a retail investors thoughts. These are my comments for File Number SR-NSCC-2022-003: The market already lacks transparency and accountability for large institutions, I am disappointed this rule is being proposed. I have drawn a clear conclusion after reading all pages of the proposed rule. The proposed rule would increase the avoidance of true market Price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in doing so the deterrent of engaging in what is supposed to be a very risky business practice. It is all upside for Market makers her which extensively naked short securities, and all downside for those on the wrong side of the shorting. How does this rule contribute to a “fair“ market by any means? FTDs are already “reset” through a variety of methods such as using derivatives not allowing them to reach their 30 day mark where the security needs to be “delivered”. This is very frustrating to see rules like this being proposed the only favor reckless institutions. Hopefully will consider the words of retail investors more with your decision making on regulations, as we’ve been educating ourselves a lot more over the past couple of years. Thank you for taking your time to read my comments on proposed rule SR-NSCC-2022-003