Apr. 09, 2021
I am an individual retail investor and would like to express my opinion regarding the new proposed rule SR-NSCC-2021-801. I believe this rule, if enacted, is a step in the right direction towards accountability for those who engage in short selling/stock borrowing activities. The current RegSHO closeout requirements are long past due for an update and I believe that this SLD change in process from Monthly to Daily settlement is progress. I would like to see this rule passed and implemented immediately. Lastly on this ruling, I would like to see stronger penalties enacted for non-compliance and violation of this rule. The small penalties that have been imposed in the past are a slap on the wrist for those who violate the rules in comparison to the large amounts of money they make while doing so. Only when faced with much strong penalties will those who abuse the system stop taking advantage of retail investors. Thank you for your time and consideration in this matter. Sincerely, Joel Stuemke