Apr. 20, 2022
I am a retail investor and I would like to make my thoughts known about this proposed rule. This rule flies in the face of fair market mechanics, and gives unlimited power and scope to bad actors who would abuse such mechanics. It is set in place to “alleviate Fail to Delivers”, but in action does nothing to eliminate them, and in effect protects the action of naked short selling, which is ALREADY ILLEGAL! For you to even mention the words naked short selling in your proposal is extremely unnerving because you are acknowledging that crimes are being committed today and this proposal will tell the world that it may be illegal but the SEC doesn’t care. This rule leverages the complexity of financial vehicles to put power in the hands of institutions, effectively safeguarding them from their own bad bets. Passing this new rule will only further deteriorate the American public’s faith in a “free and fair market”. I urge you to withdraw this proposal immediately. Joseph K Culver