April 20, 2022
SUBJECT: SR-NSCC-2022-801
I am a retail investor, and would like to make my thoughts to this proposed rule known.
This rule goes against everything there is regarding fair market mechanics, and gives unlimited power and scope to bad actors who would abuse such mechanics.
It is set in place to \"alleviate Fail To Delivers\", but in action does nothing to eliminate them. In effect this rule protects the action of naked short selling, which is ALREADY ILLEGAL.
This rule leverages the complexity of financial vehicles to put power in the hands of institutions, effectively safeguarding them from their own bad bets.
Passing this new rules would only further deteriorate the American public's faith in a \"free and fair market\".
I am a small business owner, architect, and avid retail investor. I do not see you, the SEC, creating rules to help people like me. I do not see you helping the retail investors.
Every day you, the SEC, work hand in hand with large hedge funds, market makers, and other financial institutions to make their work more profitable and making it easier for them to break the law. The SEC is supposed to help the markets become free and fair to all, not just the 1%. I am ashamed you would even consider passing this rule.
I urge you to withdraw this proposal immediately.