October 15, 2021
This Proposed Rule change jeopardizes the retirement of Americans. The line that is most troublesome: \"No suspension would continue longer than a period of two days ... unless the board approves the continuation of such suspension.\" What this means, if the \"opinion\" of the Chair of the Board of the Exchange decides all trading is detrimental to the public interest, this Chair could suspend all trading. IRA accounts would no longer be able to be closed for Retirement Accounts, and as there are members of Congress near the retirement age, this Chair could hold said retirement as ransom. No one individual, let alone a board of 354, could decide to suspend all investments of all American citizens. It raises the question of which citizens constitute the \"public interest.\"
A free market simply means that individuals and companies are free to trade (or not trade) with one another. Nothing more nothing less. By allowing the market to be suspended, we are allowing our market to no longer be free.
I urge you to reject this proposal.