Apr. 20, 2022
I am an investor in the US stock market, and I formally REJECT the new rule SR-NSCC-2022-003 I mean seriously, like seriously who is writing these rules and what are their true intentions? That’s the real question, who has peer reviewed this rule and what are the motions for acceptance. How can a rule that essentially allows an entity to not pay its obligations and hand out an IOU that’s supposed to be fungible against other securities, at anytime they are deemed to be at risk, be fair or even logical? What does that actually achieve? I would like someone to speak to me from your department at the earliest convenience regarding this new rule, and how it benefits a fair, diverse and universal market, because from the 43 pages of legal text interpretation I didn’t pick up one benefit this has for both companies, retail investors or traders, the only organisations this rule helps are ones which have idiosyncratic leverage that can no longer fulfill their obligations. This rule is a farce and a mockery of a fair and transparent market, companies should be credited when they innovate, grow and build, and held accountable when they stagnate and decay. Instead we have a select few dictating who gets to live and who gets to die, while profiting as the middle man in between. Companies should not be given precedence over the law or the people, NOBODY SHOULD BE TOO BIG TO FAIL. LET THE PEOPLE DECIDE. WE THE PEOPLE.