April 20, 2022
This is a terrible change to the rules.
The SEC's mandate is not liquidity at all costs
This rule is asking the SEC to abondon the mandate to SEC to protect investors and maintain fair, orderly, and efficient markets.
Just because some market participants took stupid risks and got themselves into hot water doesnt mean that the SEC should change the rules to protect them from consequences. Make the borrowers deliver on their promises instead of granting them overnight IOUs
The markets cannot have efficient 'true' price discovery if large entities can avoid fulfilling their obligations ad infinitum.