Apr. 20, 2022
Afternoon, This is the first time I have submitted a comment, so forgive me if it is not touching on pertinent points in a succinct way. In short, I am what is to be considered a 'retail investor'. That being said, like most retail investors, my entire family and close friends turn to me for information regarding the market, since I am the one who is "paying attention". I'd assume most retail investors are in my same shoes. Hence, I am not writing to you as a sole retail investor, but as a person who speaks with many other people who have interest in the market, either via their own direct investments, 401ks, and/or pensions. When the market, and/or the SEC, says "retail investor"...they need to keep the above in mind. In short....people talk and exchange ideas. That being said, the above referenced rule is absolutely hogwash and will continue to allow various parties to short this great economy of ours without repercussion. Allowing the creation of a new financial vehicle called an SFT to resolve and/or prop up short positions....ridiculous. They need to buy in like everyone else when they lose on a trade. Furthermore, this rule would hinder market price discovery as again, an SFT, can simply be used to kick the can on a losing position. Whoever proposed this rule needs to take the risk and potentially lose or not play the game (like all other investors)....and stop with these nonsensical rules. I hope these comments find you well. Thanks, Joe