Apr. 20, 2022
To whom it May Concern: As a retail investor I am highly disturbed by the content of this new proposed rule that would effectively allow for Failure To Deliver (FTD) to continue and worsen, which can be abused by market makers and used in conjunction with illegal naked shorting and abusive dark pool trade routing 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 goes against my understanding of the purpose of the SECs very existence. Please do not allow Security Financial Transactions (SFT) proposed in this rule, to create new and potentially endless layers of manipulation to be allowed, whereby the very real financial obligations of the FTDs get passed along instead of settled. Any stability provided in the moment is outweighed by 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 duplicitous behavior needs to come to an end. Please remove this proposed rule and furthermore please do not try to propose something similar again in the future, as iterations of this have been rejected in the past and continue to be rejected by educated investors every time these nefarious rules are proposed. 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. Cheers. FH