Apr. 20, 2022
To whom it may concern, Allowing this rule to pass would be detrimental to retail investors as it would allow market makers to continue covering up their illegal activities. If America is to continue to have a fair and free market as it claims, then this rule cannot be allowed to pass, as the market would become even more manipulated than it already is. Limiting the price or losses and market impact of a defaulting borrower's positions is allowing naked short selling criminals to retain more of their plunder and gains accrued from possession of that plunder. I understand you are trying to prevent a market crash, but the exiting of criminals is not the crash you should be concerned with. The other side of the trade will pick up the slack and we'll all be fine on the other side of the criminal's default. The more concerning crash is when the average person decides our markets aren't functional when these criminals are still allowed to play after. If a borrower needs to re-borrow a security to deliver to a counterparty, that means that the borrower did not own the security or have the security borrowed for the short sale. This is naked short selling and is ILLEGAL under SEC REG SHO. Illegal naked shorting activities have been referenced again in this rule proposal, and once again glossed over as a normal market activity. Stop SR-NSCC-2022-803. Sincerely, Retail Investor Sent from my iPhone