Apr. 20, 2022
Hello, The current financial markets lack transparency and accountability by large institutions. As a retail investor, I am extremely concerned that SR-NSCC-2022-003 is being proposed. This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely and in so doing, the deterrent of engaging in what is supposed to be an illegal business practice.This new proposal would become an outrageously unfair advantage for market makers, and would create infinite downside for those on the wrong side of their shorting. Hopefully, the SEC will consider the words of retail investors on present and future regulations, as retail investors continue to get the "short end of the stick" throughout the investment world. I firmly believe SR-NSCC-2022-003 is an insult to everyone who has ever invested in the markets. Through this new proposal, the NSCC would have you endorse their criminal activities under the illusion of fairness.This same policy has been proposed TWICE before under different guises and has previously been revoked. Large financial institutions are horrified that they might no longer have the option of taking risky bets and not facing the financial or legal consequences. I would firmly ask that you deny the SR-NSCC-2022-003 proposal. As a retail investor, I implore you to take this threat to the very sanctity, fairness and transparency of our markets for what it is - a threat against every single retail investor. Please do your part and stop this. Sincerely, Michael Noone