October 15, 2021
This rule change should be rejected by the SEC because it does not protect retail investors or public interest. For example, Robin Hood initiated PCO in January 2021 to \"protect retail investors\", which then became not having enough collateral with the NSCC. However the DTCC stated under oath that the additional requirements were waived on the same day Robin Hood initiated Position-Close-Only. However, Robin Hood still extended PCO for an additional length of time without giving a valid reason.
This example shows that the decision or opinion of one party can severely hurt retail investors and public interest, causing massive losses while certain institutions who may have influence over the NYSE benefit. Moreover, as a result of the January 2021 event many retail investors have educated themselves on the way the markets operate. The SEC should focus on protecting retail investors and public interest by helping them obtain more current information such as short interest, failure to delivers, and continuing to provide education. Additionally, trading halts more often than not increases volatility by causing psychological panic and should be done away with all together.
Thank you