Apr. 09, 2021
Hello, I am an independent retail investor and would like to express some of my thoughts on the newly proposed rule, SR-NSCC-2021-801. I believe that this rule is a necessary in holding those who abuse the current shortselling/stock borrowing systems set in place. It is time for an update to the current RegSHO closeout requirements and I believe that this SLD change in process from monthly to daily settlement is progress. It would be great to see this rule passed and implemented immediately. Lastly, I would like to see stronger penalties enacted for those who fail to comply and violate this rule. It would be utterly pointless if it is more profitable for the entities that continue to abuse and harm this system profit more from breaking the rule dealing with the consequences rather than following it. Thank you for taking the time to hear me out. Sincerely, Drew Hardie