April 20, 2022
Sir or ma'am,
Reviewing this proposed rule, as a retail investor, I am deeply disturbed by the implications this proposition has on our markets I am firmly against this proposal.
From the rule, one objective is to limit market-wide effects from 'fire-sale' events, however, this could be used to accommodate Members' activity to enter into increasingly over-leveraged positions while foregoing the risk of such positions. The potential for these Members to abuse SFTs and pass on one's obligation to deliver a security ad infinitum is very real and present. The ethics of these practices are heavily scrutinized, as you undoubtedly are aware.
I am not alone in the sentiment that the SEC is delinquent in its duty to \"promote a market environment that is worthy of the public's trust.\" Please understand that acceptance of proposals such as not only further erodes public faith in a free and fair market, but also erodes the public's faith in this Commission.
Regards,
C. Pinter