Apr. 20, 2022
Dear ladies and gentlemen, as a foreign retail investor from Germany and being heavily invested in the US stock market, I am highly disturbed by the content of the recently proposed rule SR-NSCC-2022-003. To my understanding, this rule, once being put into effect, will effectively allow the current problematic of Failure To Delivers to carry on and even worsen, which will and can be abused by market participants for US stocks. This is not in the interest of retail investors, in the US and abroad. Personally, if this rule will be put through and work out in the way I am anticipating it will, my investments in the US market will be dissolved and transferred to safer and more fairly regulated markets. Therefor, I am asking you to not allow the Security Financial Transactions proposed in SR-NSCC-2022-003 to be put into effect. I am aware of the short term benefits in terms of stability, but in essence these transactions will allow abusive practices that will not hold malicious market participants accountable for their failures to deliver. The SEC is responsible to protect fair markets throughout the US and specifically protect small market participants (retail investors). Thank you in advance for your actions in this matter and please live up to your aforementioned obligations. Best Regards Bastian Meinig