Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-003: The market already lacks transparency and accountability for large institutions, so im greatly disappointed this rule is being proposed. I've read every single page of in the file. It is very clear what this rule proposes, and it's NOT in favor of the American people, but a few people who have already gotten away with taking mass amount of money out of retail investors pockets for years, without consequence. This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. It's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a "fair" market by any means...? I don't see it. FTDs are already "reset" through a variety of methods such as using deriviatives not allowing them to reach their 30 day mark where the security needs to be "delivered." It is increasingly frustrating to see rules like this being proposed that only favor reckless institutions. Hopefully you'll consider the words of retail investors more with your decision making on regulations, as we've been educating ourselves a lot more over the past couple years. Rules like this, alongside with everything I've learned over the past couple years accelerate my loss of faith in the American financial system. To pass this rule would be to allow these economic terrorists to continue to steal from the american people, and to continue to get away with it-scott free. Thank you for your consideration. Fed up, A