April 20, 2022
It would seem that yet again, a proposed rule change would favor Market Makers and Hedge funds that act in a reckless or illegal manner. If I understand this proposed rule change, it is proposing yet another means by which a malicious entity can forgo settling their obligations. Loopholes already exist by which to accomplish this. In what way would the proposed rule change help retail investors? In what way would this rule change help average Americans whose pension funds are tied to one of these financial assets, which would then be allowed to be naked shorted to oblivion, thus causing the price to fall?
Allowing this rule change is akin to endorsing illegal naked shorting, or at the very least endorsing wildly dangerous investments for the benefit of Wall Street only.
The fact that some version of this rule has been proposed twice and shot down, but now is being proposed yet again, is infuriating.
For once please side with average Americans instead of Wall Street.