February 18, 2022
I think that this is a good rule because with today's technology it is possible to exchange securities for money in shorter time frames.
I believe that this will also minimize MMs (market makers) and brokers taking retail's money and then not actually giving people the stock that they payed for.
Concerns I have are, i)how will the SEC verify that the stock purchased is 'real' and not an IOU? With $GME it was shown that over 100% of the float was shorted. Meaning that some borrowed shares are not 'real'. ii) How will the SEC handle FTDs (failure to deliver). If a MM can simply not deliver the share then it doesn't matter if it is T+1 or T+2 because the shares never get delivered anyways.