Apr. 20, 2022
To Whom It May Concern, As a retail investor, I'm writing to express my strong objection and absolute dismay to this new rule being proposed. Implementation of this rule will allow Failure To Delivers (FTDs) to accrue, which can be abused by market makers to inhibit true price discovery. Allowing Security Financial Transactions (SFTs) proposed in this rule would add yet another way for Wall Street firms to obfuscate data available to retail investors, preventing everyday investors from making informed investment choices. While many rules are implemented for the sake of providing liquidity to markets, it is becoming clear that market makers take advantage of these rules at the expense of retail investors. SR-NSCC-2022-801 will create even less transparent markets and further erode the trust of retail investors who are only looking for a chance to participate fairly in markets. As of now, it appears that regulatory agencies exist to further enrich market makers and burdening retail investors with restrictions. Thank you for your time. Emily Torsney