April 20, 2022
Please remove this proposed rule, as iterations of this have been rejected in the past and continue to be rejected every time they resurface.
This new proposed rule would effectively allow for FTDs to continue and worsen. It will undoubtedly be abused by market makers and used in conjunction with illegal naked shorting and dark pool trade routing (both of which are already occurring at a dangerous level) to control and suppress the price on security trading. This is what the SEC is supposed to protect us from - proposals like this which will be actively abused as the cost of the well-being of retail investors. By introducing SFTs, the can-kicking on FTDs will be further enabled, passing along the financial burden and all implications.
Another worthy target for your attention would be to shut down the abusive use of dark pools by market makers such as Citadel which has been used to undermine the true value of securities traded by retail investors and to suppress price discovery.
Thanks for your time,
Lindsey May