Apr. 20, 2022
I am writing to share my thoughts on rule proposal SR-NSCC-2022-003. My thoughts in summary: this rule proposal is appalling, and I could not be more profoundly against it. It blatantly goes against a fair market and protecting retail investors. It will only serve to help hedge funds and “large players” in avoiding any accountability as they continue to manipulate the markets in their favor. We need rule proposals in the OPPOSITE direction. Tighter regulation on FTDs is necessary YESTERDAY. We haven’t had fair market price discovery for years, if ever, and this rule serves to prevent that from happening even more, by allowing onward lending into seeming perpetuity. It also serves to obfuscate the market even more than it already is from retail investors. I, as well as the vast majority of retail, are definitively against this rule and any subsequent attempts to reframe it (as I’m sure there will be). People are waking up to this corruption and the resistance will only continue to grow. It will NOT wane. My recommendation is to actually start protecting retail, as you CLAIM to do. Sincerely, Nate Palmquist