Apr. 20, 2022
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. Good Morning, The comment is in regard to File Number SR-NSCC-2022-003: The current stock market lacks transparency and accountability for the sole benefit of large institutions. The proposed rule is disheartening and can only be described as the SEC’s attempt to protect the institutions that line the pockets of Congress and SEC leadership. My conclusion of the proposed rule is that it would cripple our “fair markets” for genuine price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. It's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a "fair" market by any means...? I don't see it. FTDs are already "reset" through a variety of methods such as using deriviatives 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 that only favor reckless institutions and their puppets. As a result, retail investors, the ruined businesses, and all of their employees will pay the price. Hopefully you'll 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 years. Thank you for doing what is right! A Concerned Investor