Apr. 20, 2022
Good Morning SEC, I am a retail investor and I was reading into this new Proposed Rule Change. I hope you can help me get a better understanding because as the rule stands in its current version, I cannot help but to feel absolutely sick to my stomach that this is even being proposed or considered by a regulating authority in the first place. It seems like this rule would diminish current regSHO safeguards and allow brokers to borrow shares and meet FTD closeout requirement without the need to locate or even believe that they could reasonably locate the shares they would be borrowing and lending. Please tell me I have entirely misunderstood the rule because giving even less regulation and more relaxed rules to brokers and market makers is a huge back step in having markets that are fair or orderly in any way. Its impossible to miss the fact that Market Makers and brokers are abusing the current market structure its impossible to miss the fact that the public is taking notice. If possible, please tell me that I completely misunderstood this rule and that this would in no way make it easier for brokers and market makers to borrow hard to find stocks to close out their FAILURE TO DELIVERS. If you could kindly send me a simple summary and explanation of what this rule really is meant to do and show me where in the proposed rule I can find that information I would be extremely grateful.