Apr. 20, 2022
The following comment is for File Number SR-NSCC-2022-03 I am a retail investor and the implications of this proposed rule make me concerned that the SEC does not want to create a fair market. The language is intentionally over-complex, making it difficult for anyone that reads the 188 page document to actually understand the full nature of what will be changing. If this SEC is committed to transparency and protecting retail investors, these type of proposals should not exist. The NSCC is directly related to a lot of bad actors in the market that have been manipulating markets against retail investors. From what I do understand, this new proposal will empower those bad actors to continue manipulating the market for their benefit. Transparency is essential for a fair market and a real economy. Our current economy is an illusion because of the massive amount of manipulation that intermediary institutional investors have in the market. True market price discovery is essential to a fair market. This new proposal would avoid that discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting. Carrying massive over-leveraged short positions with significant borrowing fees that have the potential for infinite loss while piling up massive amounts of FTD's should be considered extremely risky and not encouraged. This proposal would significantly lessen that risk which would encourage institutional investors to continue practices that lead toward market manipulation. We need to level the playing field between retail and institutions, especially considering the widening wealth gap and soaring inflation, among other problems our society faces. There will be people protesting in the streets and mass unrest if our government doesn't represent the people. All we want is a fair market, where the same rules that we play under apply to the richest among us too. The proposed rule acts in the opposite direction from what the SEC claims it's function in the market is. I sincerely hope that whoever this concerns, will reevaluate their position and withdraw this ruling completely.