April 20, 2022
This rule should not be adopted as it provides unfair advantage to institutional investors and as a corollary facilitates market manipulation. Many retail investors lose value on their investments and retirement when large short positions are taken out against their investments in order to facilitate liquidity to institutions, this rule facilitates that liquidity transfer from long to short in almost perpetuity . Close-out obligations should be adhered to in a short /timely and honest manner . The public is sick and tired of these back door arrangements , the markets are meant to be free and not tilted towards one party to the detriment of the many. The public does not enjoy an endless amount of time to close a position or a wealthy benefactor (nscc) that co-signs on their risky investments. This is an outrageous rule that protects the institutional investor -not the retail- from risky investments. The risk Of the investment should be the sole responsibility of the institution making that decision.
Please stop manipulating the market for the benefit of risky investments by shortsellers and to the detriment of retail investors and the public at large.
Thank you.