Apr. 20, 2022
To Whom It May Concern, As an individual investor of multiple private stocks, I feel that changes implemented in Rule SR-NSCC-2022-801 and SR-NSCC-2021-003 pose a significant risk to nay measures put in place to support transparency in the market and to fight volatility. We should not be signaling to the markets that if large organizations decide to play fast and loose with the rules that they are supported; especially when the rules they choose to dismiss hurt the American people. These two rules fly in the face of the free market, that the people who invest their money, their pensions, and their futures. We should not seek to change the rules that hurt investors in the markets. To put things plain and simple. Any organization or person that is racking up FTDs and Naked shorting stock does not get a get out of jail free card. I for damn sure don’t get anything if I lose it all on a bad market turn. No one does. We, the market investors, don’t want any new transaction layers to replace any obligations. If any NSCC member, short seller, prime broker, etc., is underwater in their investments they can drown just like anyone else. This change has been proposed and shot down twice before and the sentiment is the same. The investors DO NOT WANT THIS! The market does not need more complex rules to govern what is meant to be a "Fair Market" when its purpose was not created by a retail market, but introduced by wall street, big banks, and hedge funds to leverage their illegitimate short selling practices. SFTs can get flushed down the toilet with the rest of any other shit ideas to try to avoid having to shell out insane floor prices for a security. Should have thought about that before you sat at the table and ate your fill of dollars, hard earned, by the American people. This rule change has one purpose in my eyes, to protect abusive practices in short selling conducted by big banks and hedge funds that didn’t get reamed enough in 2008.