Apr. 20, 2022
Greetings SEC representative: The SEC apparently wants to abandon their mandate to protect investors and maintain fair, orderly, and efficient markets by being willing to rubber stamp yet another mechanism to subvert regSHO locate requirements with SR-NSCC-2022-003. The SEC mandate isn’t “liquidity at all costs” - fair and orderly markets need MORE locates and LESS borrowing. The SEC is literally moving the markets backwards by attempting to adopt SR-NSCC-2022-003. Just because some market participants got themselves into hot water doesn’t mean that the SEC should change the rules to protect them from consequences. Make the borrowers deliver on their promises instead of granting them overnight IOUs! Do better. Best regards, Charles Hardy