April 21, 2022
To all concerned,
I appreciate you taking the time to hear these concerns. Our Financial System in America has been such a success because of the involvement of private investors. The financial markets are becoming openly corrupt and manipulated. People are becoming much more aware of this and are realizing that there is little transparency or fairness in the markets. We look to you as our advocate in representing the people with regards to making the rules that govern the markets and maintain equity for all investors.The proposed rule would allow FTDs (Failure To Deliver) to continue and worsen, which can be abused by large players in the markets. This does not in any way benefit investors and in fact could be extremely harmful.
Please do not allow SFTs (Security Financial Transactions) proposed in this rule, to create new and potentially endless layers of can-kicking to be allowed, whereby the very real financial obligations of the FTDs get passed along instead of settled. This is not acceptable and creates an opportunity to harm anyone with a retirement account and it violates the integrity of our markets for all Americans.
Sincerely,
Paul Wittrock