Apr. 20, 2022
Hello, I believe the current market lacks transparency and accountability for large institutions. As an individual (retail) investor, I'm disappointed and 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 short selling entirely and in so doing, the deterrent of engaging in what is supposed to be unsafe and harmful business practices.This new proposal would become an exponentially unfair advantage for market makers, which already naked short securities excessively, and create infinite downside for those on the wrong side of their shorting. I don't see how this rule contribute to a "fair" market. Failures to deliver are already "reset" through various methods such as using derivatives, not allowing them to reach their 30-day mark where the security needs to be "delivered." This is very frustrating to see rules like SR-NSCC-2022-003 being proposed, as they only favor reckless institutions. Hopefully, the SEC will consider the words of retail and individual investors on present and future regulations, as retail investors continue to get left behind throughout the investment world. I firmly believe SR-NSCC-2022-003 is not in the best interest to anyone and everyone who has ever purchased a security in our 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the illusion of fairness.This same policy has been proposed TWICE before under different guises and has previously been revoked. I would firmly ask that you deny the SR-NSCC-2022-003 proposal and deny/block all future proposals under the guise of a new rule having the same premise. Please, do your part and stop this. Very respectfully, Vandell Lykudra