Apr. 20, 2022
To whom it may concern,
The proposed rule in file number FR-NSCC-2022-003 allows for bad-faith actions. To even consider this proposal would be complicit in market manipulation. To allow any entity to bypass ramifications of poor decisions for the purpose of temporary stability jeopardizes any and all confidence in a free market based economy and allows the perpetrators of such behavior to control the outcome as they see fit.
The blatant disregard and contempt that large market makers and hedge fund managers have for the average citizen investor, and retail investor is on full display with this proposal. The corporations that many have trusted for years to safeguard retirement funds, to uphold the truth of hard work, and inspire average to be involved in the outcome of future financial stability have proven with this rule change they wish to close the doors of the financial market to those citizens and retail investors. The market makers and hedge fund management wish to only game the system for their personal gain at the expense of the average citizen.
Stock certificates are meant to be non-fungible and proposed rule FR-NSCC-2022-003 removes that value from the market. The proposal if implemented would allow bad faith actors to be able to substitute their fail to deliver with whatever they feel would be less damaging to themselves, completely removing the concept of a free market. No future company nor investor would choose to participate under this type of manipulation where the deepest pocket gets to decide through these possible rules what the price of any stock will be and when it suits them the most.
Thank you for your consideration,
A concerned investor