Subject: S7-01-23: WebForm Comments from Paul B. Demers
From: Paul B. Demers
Affiliation:

Mar. 15, 2023

March 15, 2023

 I disagree with all of the exemptions contained within the re-proposed rule. Their liquidity only comes from selling securities they do not yet own, and this is and should be illegal as everyone in the system is abusing the locate function and those securities never get purchased and end up being failure-to-delivered.

No naked short-selling of any kind should be allowed If no stock exists, no sale of the stock should take place until the system finds a price with a willing seller. This will give household investors access to real price discovery.