Apr. 20, 2022
Hello, I’d like to voice my disapproval of proposed rule SR-NSCC-2022-003. This proposed rule is 188 pages of ‘wall-street-speak’ that boils down to allowing bad actors, market makers, banks, etc. to disregard their debt obligations if their naked short selling practices blow back in their faces. Naked short selling is illegal, abused beyond belief, and should under no circumstances be granted leniency or denial of obligations. On February 17th, 2022, MarketWatch published an article in which Gary Gensler is quoted saying, “Finance is ultimately about trust, and the official sector has a role to help instill that trust through a set of rules on disclosure, anti-fraud and anti-manipulation.” This proposed rule (SR-NSCC-2022-003) is anything BUT disclosure, anti-fraud, and anti-manipulation.