Apr. 20, 2022
To whom it may concern, I am a retail investor, and upon reading this new proposal, I found myself extremely disappointed. I feel this rule does not represent a free nor fair market for retail investors such as myself as it would effectively allow the abuse of Failure To Delivers (FTDs) by market makers to worsen. As we already know, price suppression through dark pool trading and illegal naked shorting is already a massive problem within the market so to give yet another advantage to market makers directly contradicts everything the SEC stands for. The proposal of Security Financial Transactions (SFTs) may provide stability for the very short term, but more importantly opens up a corridor for yet more abuse and manipulation by market makers. It removes all accountability for the abusive actions taken and prevents large investors from ever having to pay up for their failures (To Deliver). This is completely unacceptable -and as already stated- directly harms retail investors and our right to a free and fair market. Therefore, I am requesting that this proposed rule is retracted and nothing similar is proposed yet again. It is a colossal waste of time, seeing as similar rules have been proposed previously and rejected by educated retail investors.The SEC is supposed to look out for the well-being of investors such as myself, so I would propose that you direct your attention to doing so. I hope this email finds you well, and I thank you for taking the time to read my thoughts on this matter. Kind Regards, Owen Dilks