Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-003: The market already lacks transparency and accountability for large institutions, and this rule would only further increase the problem. This rule is proposed to "alleviate Fail To Delivers", but does nothing to eliminate them. 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." As such, this rule effectively protects the action of ILLEGAL naked short selling. This rule leverages the complexity of financial vehicles to give an advantage to large institutions, effectively safe-guarding them from their own bad bets. It is very frustrating to see rules like this being proposed that only favor reckless institutions in what is intended to be a "free and fair market". I urge you to consider the words of retail investors more with your decision making on regulations. Thank you, R.T.