Apr. 20, 2022
To whom it may concern, It is unbelievable to me that a rule like this is even proposed. It is not a 'rule'. It is a loophole. It appears to be specifically drafted in order to allow bad actors in the market (illegal naked shorting & failures-to-deliver) to have yet another loophole in order to continue their illegal practices. It is always in the name of liquidity. Investors don't mind poor liquidity. If a security's bid/ask spread is large and there is a stalemate in the market - so be it. We can wait. I have read through many of these rules and have yet to find one that plainly benefits retail investors. It saddens me that the SEC, which was created to protect the integrity of markets and retail investors, increasingly appears to be abusing its power to do the exact opposite of what it was created to do. We are losing faith. Shame on whoever approved this 'rule' to be considered for implementation. Regards, Chris Castro