Apr. 20, 2022
To whom it may concern, As a retail investor in the United States, I am strongly against Proposed Rule Change SR-NSCC-2022-003. This new proposed rule would effectively allow for FTDs (Failure To Deliver) to continue and worsen, which can be abused by market makers and used in conjunction with illegal tactics to control and suppress the price on security trading. This does not in any way benefit investors and in fact could be extremely harmful, which is anathema to the entire purpose of the SECs very existence. The fact that you even entertain this sort of proposal is very disheartening. 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. You should also make this information much clearer for the everyday investor - not everyone has the sources or ability to figure out what any of them mean, and I believe that to be intentional to keep retail investors uninformed or intimidated through highly complexed processes and wording. Services should be made easier to contact regulators and regulators should do their jobs. The mission of the SEC is to look out for the well-being of investors such as myself, so I would propose that you direct your attention to doing so. Thank you in advance for your timely attention to this matter, and please live up to your obligations and protect investors from predatory behavior by financial institutions. Best, A concerned individual investor