Apr. 20, 2022
To whom it may concern, I am greatly disturbed by the recently proposed changes laid out in the new rule amendments. As a retail investor in this market, this change can only result in the further manipulation of the market, and eventual fall of individual investments. This rule change effectively allows for FTDs (Failure to Deliver) to be pushed back indefinitely, concluding in the neverending existence of outstanding loans. Using this tactic, market makers will be allowed to utilize the many privileges granted to them to abuse naked shorting schemes, further disallowing true price discovery in the market. The proposed SFTs (Security Financial Transactions) are yet another layer added onto the already needlessly complex structure of the market; that will allow for FTDs to never become fulfilled. Thereby eliminating not only loan fulfillment and obligation, but also economic flow in it's entirety. Perhaps the NSCC does not understand the far reaching impact of allowing this kind of behavior via law. If this rule were allowed to pass, the meteoric impact of the abusive behavior which it would spawn would surely spell the end of our markets, and the national economy as a whole. As an individual investor, I cannot aptly express the level to which I oppose this new rule, and it's intended uses. To summarize, I ask that you consider the immediate removal of this proposal, and never attempt to reignite this conversation again; for the health of all people who utilize our markets. Thank you for your time, and your consideration. Sincerely, A Concerned Investor