Apr. 20, 2022
Dear SEC, the market already lacks transparency and accountability for large institutions, so im 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, which should not exist in the first place. 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 for EVERY participant? 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." 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 we've been educating ourselves a lot more over the past couple years. Still having some hope of a fair market left, Marc André