Apr. 20, 2022
Hello, As a retail investor who believes strongly in the efficiency of fair markets and the superiority of American business and entrepreneurship, I am dismayed by this proposed rule. The past 2 years have seen unprecedented growth in retail participation in equity markets. This participation benefits both businesses and consumers, provided that there is trust in the system. A certain level of transparency and simplicity is required to maintain said trust. Consumers have not forgotten how complexity and leverage led to disaster in the late 2000s, but confidence in the equity markets is strong again. The proposed SR-NSCC-2022-003 will do nothing to improve transparency or fairness in the markets. Instead, it will erode trust while increasing complexity, an obvious example of the SEC yielding on its regulatory responsibility. Thank you, Matt