Apr. 20, 2022
Dear SEC, I am writing this message as an active retail investor that is heavily concerned by the subject rule proposed. After going through the file twice, it is very clear to me that the rule in fact acts against the interest of retail investors, whom SEC is supposed to protect. It does that by increasing possibility for avoidance of true market price discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting. That practice, as I am sure you are aware, is by nature very risky and for a good reason. Without that risk, the institutional investors are free to essentially gamble with taxpayers and retail investors money, posing systemic risk to the integrity of US stock market. What we need is more transparency in how stock market works to level the playing field between retail and institutions, especially considering the widening wealth gap and soaring inflation, among other problems our society faces. The proposed rule acts in the opposite direction. Transparency is key as there is absolutely no reason why we should not have access to these information. I hope your team reevaluates the rule as none of this is in the interest of the retail investor. Thank you for your time