Aug. 12, 2022
August 12, 2022 Dear SEC, I am of the strong opinion that the DTCC should NOT be a Self Regulation Organization (SRO) as a clearing agency. The DTCC is currently managing the majority of stock depositories and ensuring stock buys are delivered and cleared. They have been mismanaging that and abusing their SRO privileges and allowing Failure to Delivers to pile up. They are now even attempting to change the rules to remove themselves from the responsibilities because of their failures with this comment from 17Ad-22(e)(11) \"no CSD is in a position to guarantee the integrity of the securities it holds as a central securities depository.\" Might I remind you that your duty as the SEC is to protect investors and ensuring a fair and transparent market. If the DTCC is already mismanaging securities, then they need to be regulated by the government especially as the DTCC attempts to shift responsibilities from its own actions.