April 19, 2022
I urge the commission to reject SR-NSCC-2022-801 as it hurts the majority of participants and only benefits/bails out a select few who have sold securities without owning them. Normally when people sell things they don't own they are usually charged by law enforcement, instead the SEC contemplates rules to continue normalizing this disgusting criminal behavior.
Furthermore, the NSCC has provided zero reasonings for the NSCC to withdraw SR-NSCC-2021-010 in the first place only to resubmit under a different name. In addition, the commission should reject the proposed rule as it allows \" SFTs to provide liquidity
to markets and facilitates the ability of
market participants to make delivery on
short-sales, and thereby avoid failures to
deliver, naked shorts, and similar
situations\". The SEC should be cracking down on the Failures to Deliver and Naked Shorting not entertaining a rule that would further entrench naked shorting and failing to deliver. The SEC has taken zero steps to end the rampant abuse of naked shorting, failing to deliver, and the endless abuse of the ETF redemption and creation process.