Apr. 20, 2022
Good afternoon, It is inexcusable that SEC has not upheld their duty to protect retail investors upon admitting several market problems (issues that may not benefit the retail investor via payment for order flow, majority of trades going through dark pools instead of lit exchanges denying price discovery, etc) over the last 2 years. Rule SR-NSCC-2022-003 would be the absolute biggest failure of the SEC to start this decade. The responsibility for the significant failure to delivers belongs with the institutional investors/hedge funds that have dug themselves into said position. This rule seems crafted to protect the practice of abusive short-selling when it does not work out of these institutional investors/ hedge funds. It is undeniable to date that the complexity of rules that govern the market improperly favor Wall Street, big banks, and hedge funds which use these complexities to their advantage. This new rule is another way of leveraging that complexity and essentially saving abusive short sellers. It is your duty as the SEC to not let this rule pass, and to address matters you have admitted against retail investors over the past 2 years. I anticipate retail investors will be watching the SEC closely and will continue to use multiple platforms and methods to highlight the actions taken by the SEC. As a proud citizen of this country, I hope to view your actions pertaining to this rule to be a first step in rectifying the actions taken by abusive short sellers. Regards, Ariel Bautista