April 22, 2022
My comments regarding proposed rule (003) are as follows. The wording of this rule allows overleveraged hedgefunds to bypass their financial responsibilities, especially in the case of failure to delivers. When accountability is removed from organizations to meet their fiduciary requirements, it will lead to unchecked short selling and erode what little trust that's left in the current markets. The wording and implications of this rule are unacceptable. It's obvious this rule is to protect activists short-sellers at the cost of hardworking retail investors and pension funds. By moving forward with this rule, you'd be creating distrust in the agencies who are supposed to protect retail and leave us with no choice but to take up activism. This is not how the system is supposed to work and to change the game because it's not working out for one party is wrong and could have lasting consequences.