Apr. 20, 2022
Hello, I am writing to have my input heard about the proposal with the File Number SR-NSCC-2022-003. The market already lacks transparency and accountability for large institutions, so I'm disappointed this rule is being proposed. 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 derivatives not allowing them to reach their 30 day mark where the security needs to be "delivered." This is very 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 an individual investor I've noticed that the stock market heavily favors institutions, and this wouldn't help me one bit. Regards, Jerome Bass Please consider the environment before printing this email - Help save our planet. Veuillez songer à l’environnement avant d’imprimer le présent courriel – Aidez-nous à protéger notre planète. (This e-mail may be privileged and/or confidential, and the sender does not waive any related rights and obligations. Any distribution, use or copying of this e-mail or the information it contains by other than an intended recipient is unauthorized. If you received this e-mail in error, please advise me (by return e-mail or otherwise) immediately. Ce courriel est confidentiel et protégé. L'expéditeur ne renonce pas aux droits et obligations qui s'y rapportent. Toute diffusion, utilisation ou copie de ce message ou des renseignements qu'il contient par une personne autre que le(les) destinataire(s) désigné(s) est interdite. Si vous recevez ce courriel par erreur, veuillez m'en aviser immédiatement, par retour de courriel ou par un autre moyen.)