Apr. 20, 2022
The market already lacks transparency and accountability for large institutions. I'm disappointed to see yet another rule proposed to further obfuscatewhat little transparency remains. I've read every single page in the file and it is very clear what this rule proposes. This rule would increase avoidance of true market 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 (and illegal) business practice. It only benefits market makers which excessively short securities, and does nothing for those on the wrong side of their 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 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. Hopefully you'll consider the words of retail investors more with your decision making on regulations. Sincerely, A concerned investor