Apr. 20, 2022
I am wholeheartedly against this proposed rule change! The complexity with which these rules are written is designed to keep the average investor in this "free and fair" (laughable) market ignorant to what the bad actors are truly doing. I am a retail investor and would like to share my thoughts on this proposed rule. This proposed rule is a slap in the face to fair market mechanics and gives unlimited power to bad actors who are already taking advantage of and abusing such mechanics. Not only does this proposed rule do nothing to alleviate FTDs (Failure to Deliver), in effect, it protects the action of naked short selling which is ALREADY ILLEGAL! This rule leverages the complexity of financial vehicles to put power in the hands of the institutions safeguarding them from their own bad bets. The avoidance of price discovery through onward lending removes the infinite risk of naked shorting and in doing so it removes the deterrent or engaging in what is supposed to be the very risky actions of naked shorting. This proposed rule change would allow for price suppression for as long as one wants. The general public already has no faith in the market as it is and this proposed rule change will only further degrade that faith. I urge you to withdraw this proposal IMMEDIATELY. Signed, Concerned Investor