Apr. 20, 2022
The market already lacks transparency and accountability for large institutions, I’m so disappointed this rule is being proposed. Frankly its an insult to anyone who own securities and the concept of a fair market in and of itself. I've read every single page in the file and it is very clear what this rule proposes. This rule enables and encourages increased avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and by doing so further encourages engaging in what is supposed to be very risky business practice. This rule would free market makers which excessively naked short securities from the consequences of their own poor decisions, and deliver all the downside to those on the wrong side of their shorting (retail). How by any means does this create a more fair and transparent market. The answer is it doesn't not and is not intended to. FTDs can already be "reset" with a variety of methods such as using derivatives not allowing them to reach their 30 day mark where the security must be "delivered." It is frustrating to see rules like this being proposed that blatantly favor reckless institutions. Further this policy has been proposed and rejected twice albeit under differing guises. I pray you consider the voice of retail investors more with your decision making on regulations. We are not “dumb money”, we see the corruption and lack of accountability in our markets clearly and we will not be ignored nor let this sickness spread further.