Apr. 20, 2022
To whom it May Concern: I am alarmed as a retail investor by above-mentioned rule proposal that would essentially allow for FTDs to escalate beyond what’s already absurd degree. In no other realm of business would the failure to deliver a product be tolerated (let alone encouraged!), and I’m not sure why anyone feels like allowing for further abuse by market makers would be an acceptable thing. It is an open secret that MMs have abused this system to achieve disgusting levels of profit (in tandem with naked shorting and abusive dark pool trade) at the expense not only of standard retail traders but also of taxpayers who have entrusted their retirement funds to the market because “it’s safer there.” This rule proposal would solely benefit institutional wealth and traders, and would be a further slap in the face to average Americans and retail investors. In spirit, this rule has been proposed several times and has been soundly rejected each time, so why are we entertaining it again? The SEC has a moral obligation to prevent further obscurity in the market, especially when it would pretty clearly benefit bad-faith actors who have dug themselves in too deep. They need accountability and consequences, not another bailout. Sincerely, James Desta, LPC EMDRIA Certified EMDR Therapist EMDRIA Approved EMDR Consultant 201 East Side Square, Suite 9 Huntsville, AL 35801 (256) 469-0091