Apr. 21, 2022
Securities and Exchange Commission, The following comments are in reference to the Advance Notice SR-NSCC-2022-801, and Proposed Rule SR-NSCC-2022-003. After reading these proposed rule changes, it is clear that the new rules will have a negative effect on retail investors by putting individuals at a significant disadvantage to financial institutions. The new rules will add safety nets for financial institutions, but no such benefit to the individual investor. At a time where market transparency and fair market practices are more manipulated and abused than ever, these rulings should be rejected until such time that they benefit the people of the United States and not only the hedge funds, investment banks, and the "sponsored members." More transparency and actual enforcement of regulation is what is needed in the markets, not less. Furthermore, the proposed rules are merely protecting institutions from themselves and their high-risk investments. Changes like this are only in the interest of bailing out institutions, creating even more tools not available to retail investors, helping institutions to never take significant losses on their risky trades. The U.S. claims to have a free market, but we continue throwing life-lines to institutions who over-leverage their trades and multiply their risk exposure. A free market allows an equal chance to make financial gains and losses for everyone involved. If financial institutions want to avoid the risks of a "fire sale," they can simply conduct their own risk mitigation and make reasonable trades, instead of expecting the American people to lose their investments while institutions come out unscathed. I have attached SR-NSCC-2022-801 and SR-NSCC-2022-003 in PDF format for reference. Thank you for your time. U.S. Citizen and U.S. Army Officer, Keith Sneed