Apr. 20, 2022
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. To whom it May Concern: As a retail investor I am highly disturbed by the content of this new proposed rule that would effectively allow for FTDs (Failure To Deliver) to continue and worsen, which can , AND WILL , be abused by market makers and used in conjunction with illegal naked shorting and abusive dark pool trade routing to control and suppress the price on security trading. This does not in any way benefit investors and in fact could be extremely harmful, which is anathema to the entire purpose of the SECs very existence. Please do not allow SFTs (Security Financial Transactions) proposed in this rule, to create new and potentially endless layers of can-kicking to be allowed, whereby the very real financial obligations of the FTDs get passed along instead of settled. We should not be allowing rules to be created that offer momentary stability at the cost of obligation subversions. This rule allows for abusive practices where market makers are never accountable for their failings. This is not acceptable and creates an opportunity to harm retail investors and it violates our rights for a free and fair market. The manipulation needs to come to an end. Please remove this proposed rule and furthermore please do not try to propose something similar again in the future, as iterations of this have been rejected in the past and continue to be rejected by educated investors every time they resurface. Focus your attentions on banning payment-for-order-flow, and enforce the routing of transactions through a lit market for public scrutiny. Our market markers have grown into behemoths who abuse loopholes such as the one SR-NSCC-2022-003 aims to create. Swift and Decisive action needs be taken to prevent these behemoths from growing any larger. Thank you in advance for your timely attention to this matter, and please act on your obligations and help the investors from predatory behavior by financial institutions. Sincerely, Rhawn Fischer