Apr. 20, 2022
Good day, The following is my comment for File Number SR-NSCC-2022-003. This proposed rule should not be allowed to go through. It violates the very idea of a free market by allowing bad actors to go unpunished for market manipulation. If financial institutions are allowed to bypass their obligations regarding failure-to-delivers and naked shorts, they are effectively above the law. This ruling compromises what little fairness exists in the market. If market makers are able to naked short without risk, price discovery through supply and demand becomes worthless. It prioritizes the well-being and profit of a select few organizations at the cost of companies who are victims of naked shorting. If this ruling were to pass, then those companies would have even fewer opportunities to combat such blatantly illegal methods. It is extremely frustrating to continue to see suggested rulings being put in place that shields criminality and elevates financial institutions that are complicit above the law. The NSCC should be working towards a fair market that allows retail investors and Wall St. companies to invest on a level playing field, not giving special privileges to people who need to face the consequences of their actions. Thank you for your time.