Apr. 20, 2022
Dear SEC, NO on SR-NSCC-2022-003. It's sole purpose is to launder illegal naked shorts & persistent FTDs. 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 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. This proposed rule is an affront to anyone and everyone who has ever purchased a security in our markets. The NSCC would have you endorse their criminal activities under the illusion of fairness. They want you, our sole remaining force of good in the markets, to become their Sheriff of Nottingham, assisting the powerful and undeserving in taking that which does not belong to them. This proposal has been withdrawn twice already. This is it's third time around. Withdrawal it. Bury it. The market desperately needs more accountability and transparency, not less! Thanks for taking the time to read this. I hope your day is great. NO on SR-NSCC-2022-003. -- Thanks, Sawyer