Apr. 20, 2022
To whom it may concern at the SEC: I am a retail investor. I must strongly condemn the possible implementation of this proposed rule. Markets must allow for true and transparent price discovery. Work-arounds for failures to deliver (FTD) are antithetical to how free and fair markets should work. This proposed rules allows for abuse by market makers who may or may not already partake in illegal naked shorting and routing of trades through dark pools instead of lit exchanges. Regardless of who participates in the markets, there must be accountability for failings. Any instrument that allows for FTDs to be prolonged or delayed should not be entertained. Protecting the well-being of investors and preserving the integrity of free and fair markets is a chief mission of the SEC and I believe the implementation of this proposed rule would be catastrophically detrimental to that mission. Sincerely, Matt Louis