Apr. 20, 2022
To whom it may concern, I am writing to you today as an extremely concerned retail investor. As a retail investor I am highly disturbed by the content of this new proposed rule that would effectively allow for FTDs (Failure To Deliver) to continue and worsen. This does not in any way benefit investors and in fact could be extremely harmful. Please do not allow SFTs (Security Financial Transactions) proposed in this rule, to create new and potentially endless layers of can-kicking to be allowed, whereby the very real financial obligations of the FTDs get passed along instead of settled. I can see how it provides stability in the moment, but it also allows for abusive practices where market makers are never accountable for their failings. This is not acceptable and creates an opportunity to harm retail investors and it violates our rights for a free and fair market. The manipulation needs to come to an end. I have been neck deep in the GME saga since the initial run up. The practices that have been exposed are abhorrent. The fact that your country and yourselves allow this to happen, facilitate it even if frankly shocking. I as a retail investor have completely lost faith in the US stock market and can see it for what it is. A giant ponzi scheme. Please stop suggesting these ridiculous rules and play the game as the rules originally intended. Rather than changing them when you start to lose. Thank you in advance for your timely attention to this matter, and please live up to your obligations and help the investors from predatory behavior by financial institutions. Sincerely, Mitchell Shotbolt