April 22, 2022
This rule is a clear attempt to launder illegal naked shorts and FTDs. The DTCC and the NSCC both know there are billions upon billions (possibly trillions) of dollars worth of Naked Shorts, FTDs and the like that need cleared. Yet no amount of revising can change the fact that this rule allows hundreds of billions of dollars to go unpaid while harming retail investors, retirement funds, mutual funds, and others. This is the 1% making rules because they made bad investments and want us to pay for it.