April 20, 2022
With all due respect, this proposal is a complete and total sham of a regulation - it will do nothing to help the miserable state of the US markets and, instead, creates myriad opportunity and incentive for any and all participants that engage in naked short selling to not only continue their illegal and nefarious abuse of the FTD system to never have to have any accountability for their dangerous and risky behaviors. Indeed, this creates perverse conditions that deliberately imperils the retail side of the market while benefitting the bad actors that are already so compromised with their obligations for years and years of kicking the can down the road and never having deliver on all the pretend synthetic equities that have been poofed into existence to enable them to short sell entire businesses into the ground with zero ramifications for them at any step of the way.
This egregious contempt for any sort of fair and transparent market is far beyond the pale even for such a broken and crooked system as the US financial markets - proposals like this disgusting handout to the very organizations that the SEC is supposed to be regulating only further harm retail investors, shareholders at every level and make even more of a mockery of the state of our systems are.
This proposal absolutely needs to be trashed. The hedge funds that have screwed themselves into the corner absolutely need to deliver those obligations that they committed to time and time again. This crappy proposal will shield them from ever having to meet their obligations and effectively steals the very livelihood of millions and millions of investors through illegal and immoral complexity and protection by the SEC rather than actually enforcing the rules and laws that exist already.
Please. Just. Stop.
You have the duty to protect investors and you are failing absolutely.