Apr. 20, 2022
Hello SEC, I am writting, to voice my opposition to SR-NSCC-2022-003. HELL NO TO SR-NSCC-2022-03 !! As a Retail Investor, the subject rule being proposed does not benefit or protect me in any way. FTDs (Failure To Deliver) and Naked Shorting are already a big problem within the market and implementing this rule would make it considerably worse. This rule prevents true price discovery. It allows for endless “can-kicking” of failures to deliver. In essence, it is the exact opposite of a free and fair market. Naked shorting and FTD’s (especially ones that are never closed or settled respectively) do material harm to both the investors who are long and the company trading publicly. I’d like to believe that the SEC is here to protect investors as it is stated in their mission statement, but some of the recent proposals that have been brought forward, leads me to believe that the SEC is failing investors and benefitting the big players on Wall Street. I would very much like to see this proposal DOA (Dead on Arrival) and for the Commission to consider not implementing rules like this EVER again. Your goal is protect retail investor or market maker (white collars) ?! I believe it benefits everyone to be as transparent as possible and for all parties involved to meet their law obligations. If you not do your job, you then encourage individual investors to want a free and fair system on another system, perhaps a decentralized market (Dex) ?! Like blockchain ?! Once again, I say NO to SR-NSCC-2022-003 Thank you for your time.