April 23, 2022
Hello Fellow members of the SEC,
As we are well aware, there is a huge disparity between the number of FTDs and illegal naked shorts in existence and the number of retail investors who have seen a return on their investments. We need a clear way of cleaning up this disparity and the SFT marketplace is not the answer as it is comparable to the current CNS program that is currently handling the settlement process that allows the current FTDs to be pushed further down the road and avoid the need to close these out.
Please, fellow esteemed members of the SEC, on behalf of retail, I implore you not to implement this rule and find a more suitable alternative solution that allows for controlling the current volume of FTDs to an amount that is more manageable and gives retail a fighting chance.
Thank you for what you do.
-A concerned citizen