Apr. 20, 2022
Our market currently is missing transparency and accountability for large institutions. I am very concerned that this rule is being proposed. This rule will increase evasion of true market price discovery through nonstop lending. By removing the infinite risk of shorting entirely, you are removing the deterrent of engaging in risky business practices. It's all upside for market makers which excessively short securities, and all downside for those on the wrong side of their shorting. This rule does not contribute to a more fair market at all. "Failure To Deliver" are already dodged through a variety of methods. The most common being utilizing derivatives. It is very frustrating to see rules like this being proposed that only favor reckless institutions. I hope you'll consider the words of retail investors more with your decision making on regulations. We have been educating ourselves a lot more over the past couple years. J. Leung