Apr. 20, 2022
To whom it may concern, The following is my comment for File Number SR-NSCC-2022-03 I am writing as a retail investor who is very concerned about the implications of the rule you proposed. After going through the file, it is very clear to me that the rule in fact acts against the interest of retail investors, whom the SEC is supposed to be protecting. It does that by increasing possibility for avoidance of true market price discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting. And this practice, as I am also sure you are aware of, is illegal. Without that risk, the institutional investors are free to essentially gamble with taxpayers and retail investors money, posing systemic risk to the integrity of US stock market. What we need is more transparency in how stock market works to level the playing field between retail and institutions, especially considering the widening wealth gap and soaring inflation, among other problems our society faces. The proposed rule acts in the opposite direction. I consider that transparency essential for a fair and sound economy, as well as for the democracy. Having said all that, I sincerely hope that whoever this concerns, will re-evaluate their position and withdraw that ruling completely. Thanks much for your consideration. A very worried and active retail investor.