April 20, 2022
As an international investor, it is clear that the US market lacks transparency and accountability for large institutions.
This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice.
It's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a \"fair\" market by any means...? I don't see it.
FTDs are already \"reset\" through a variety of methods such as using deriviatives not allowing them to reach their 30 day mark where the security needs to be \"delivered.\"
I am hoping that you are willing to consider the voices and input of retail investors and protect them from predatory institutions, like this proposed rule protects them.