Apr. 20, 2022
Hello, Firstly, I would like to thank the recipient of this email for taking the time to read my comments. I believe that SR-NSCC-2022-003 poses a great risk to the stock market and serves only to further empower hedge funds that are illegally naked shorting stocks -- that is to say, they are selling the same shorted stock multiple times with no intention of ever locating the stock. If this rule passes it will allow hedge funds to indefinitely delay their FTDs, by removing idiosyncratic risk and will once again put our economy into a state of systemic risk. Please see to it that this rule is not passed. Retail faith in US markets is already waning and further tipping of the scales in favor of hedge funds/market makers will only sow further distrust in the US stock market. More dangerous than that, it will certainly be the cause of another market crisis. As a proud American citizen, a father, an engineer, I implore you to withdraw this rule proposal. -- J. Granados