Apr. 20, 2022
Hello, I hope you are well. The current market lacks transparency and accountability for large institutions. As a retail investor, I believe SR-NCSS-2022-801 will make things much worse. This rule would allow for increased avoidance of true price discovery through onward lending. It also removes the infinite risk associated with naked shorting. This illegal practice is the scourge of society, allowing unscrupulous short hedge funds the ability to bankrupt companies that provide or may provide improvements to society at large all to make a profit. Allowing this to continue would not make markets fair in any discernible way. In fact, it makes markets less fair by allowing the abomination of FTD a new way to never be delivered. Why this rule is even being introduced is beyond me. Obviously, the SEC does not have an interest in protecting investors. This rule is the evidence. How about, instead of making markets less fair, you focus on banning Bernie Madoff’s greatest accomplishment, PFOF or stop rampant abuses of sending retail buy orders through dark pools to manipulate the price of a security or investigate the media’s involvement in short-and-distort scams, especially regarding $GME. No, instead you work against retail with this rule, SR-NCSS-2022-801. I urge you to send this rule proposal to the trash heap of history and fight for actual fair markets. Thank you, Julie Lynch