Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-03: I am writing as a retail investor residing in the United States, very concerned about the implications of your proposed rule. After going through the file multiples times, it is evident that the rule acts against the interest of retail investors, whom the SEC is supposed to protect. It does that by increasing the possibility of avoiding true market price discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting. As I am sure you are aware, that practice is hazardous and for a good reason. Without that risk, the institutional investors are free to essentially gamble with taxpayers' and retail investors' money, posing a systemic threat to the integrity of the US stock market. We need more transparency in how the 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 is essential for a fair and sound economy, as well as for democracy. Having said all that, I sincerely hope that whoever this concerns will reevaluate their position and withdraw that ruling completely. Thank you,