Apr. 20, 2022
I am a retail investor and I am quite concerned about the proposed rule SR-NSCC-2022-003. This rule would critically impede fair market mechanics. It grants unlimited power and scope to bad actors who are currently abusing such mechanics, granting them further leeway to continue abuse. I understand that the rule is intended to "alleviate Fail To Delivers", but in action it only furthers the illegal actions of naked short sellers. Leveraging the complexity of financial vehicles like the proposed rule would grant, institutions are given protection against their own bad bets, rather than letting market forces play as they should. By passing this new rule, American public faith in a "free and fair market" would be greatly diminished. This would not only impact American faith in the market, but international investors large and small who would question the fairness of US markets and withdraw their investments, taking them to other markets. This would have a devastating effect on the US markets and economy for decades to come. I strongly urge you to withdraw this proposal immediately to protect the fairness of the US marketplace. Regards, Kurt H. Kaufmann