Apr. 09, 2021
To whom it may concern, I am an individual retail investor and I would like to express my concern and opinion for the new proposed ruling SR-NSCC-2021-801. If enacted I believe this rule will be a dramatic step in the right direction in terms of accountability for those who engage in short selling and borrowing stock. I believe the time has come and we need to update the RegSHO close out requirements. The SLD process change from monthly to daily settlement is a needed improvement for all who invest in the US stock market. Having a small voice heard is important in making sure everyone has a fair seat at the table and I would like to see this ruling passed and implemented without delay. Along with this ruling I believe the current penalties for non compliance are not stringent enough, and that enforcing higher penalties based on a percentage should be enacted. A moniatry policy is not enough to make a statement that the SEC will not allow rules to be broken. I believe a 3 strike rule should be enacted for companies who perpetually and knowingly break the rules and still profit. I believe that each time a violation occurs that the penalties should be exponentially increased. Thank you for taking the time to read and discuss my thoughts on this matter. Please be a voice for those who feel we have no voice or say in our financial system. Sincerely, Ryan Reda