Apr. 20, 2022
To whom it May Concern: I am a retail investor and I am worried that this new proposed rule would exacerbate the way FTDs (Failure To Deliver) can be abused by market makers and related illegal naked shorting and abusive dark pool trade routing to control and suppress the price on security trading. I cannot see how this benefits investors and I urge the SEC to refrain from permitting the use of proposed SFTs (Security Financial Transactions) that shirk off FTD obligations and delay their settlements -- which severely mitigates market fairness and genuine price discovery. Please 1) remove this proposed rule, and 2) refrain from proposing something similar again as these kinds of rules keep being rejected by educated investors every time they resurface. I am greatly disappointed that retail investors have to keep raising the alarm on this proposal despite its continued rejection. I would hope the SEC would more discerningly consider the position of retail investors in relation to these propositions. I believe that banning Payment For Order Flow, which unfairly benefits Market Makers and brokers who do not have investors' best interest in mind, would be the proper direction. Eliminating the abusive use of dark pools by market makers such as Citadel would also help establish the true value of securities traded by retail investors. Thank you for your timely attention to this matter, and I hope to see more consideration to the positions of retail investors in the regulations that oversee our financial markets. Sincerely, Peter Szekeres