Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-03 I am writing as an American retail investor, very concerned about the implications of the rule you proposed. After going through the file twice, it is very clear to me that the rule in fact acts against the interest of retail investors, whom the SEC was created to protect. It does that by increasing the possibility for avoidance of true market price discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting: a practice, as I am sure you are aware, 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 the US stock market. What we need is more transparency in how the US 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. Transparency is essential for a fair and sound economy, as well as for our democracy. That said, I request that whomever this concerns, will reevaluate their position and withdraw that ruling completely. Kerry Hinton