Apr. 20, 2022
Hello, Please veto/cancel/end SR-NSCC-2022-003. As a retail investor I am highly disturbed by the content of the proposed SR-NSCC-2022-003 rule that would effectively allow for FTDs (Failure To Deliver) to continue and worsen. Currently I am invested in stocks that have millions of FTDs, which I believe is a symptom of abuse by "market makers" who are criminally manipulating the markets. This rule does not in any way benefit retail investors. The passage of this rule would cause extraordinary damage to faith by both American and foreign investors in the American stock market. Please do not allow SFTs (Security Financial Transactions) proposed in this rule to create new and potentially endless layers of deferment of fiscal responsibilities. The very real financial obligations of the FTDs would get passed along instead of settled at an ever increasing rate . Burning down the house (market trust) with this rule may bring warmth (stability) for a moment, but it allows market makers to indefinitely postpone accountability for their failings. This is not acceptable and creates an opportunity to defraud retail investors. The manipulation needs to come to an end. Please remove this proposed rule and do not propose similar rules in the future. Iterations of this have been rejected in the past and continue to be rejected by educated investors every time they resurface. If the SEC wishes to ensure the market is relevant in the future, ban Payment For Order Flow. Itis inherently harmful to retail investors. Payment For Order Flow is a Madoff invention that has been banned by multiple foriegn markets for the blatant scam it is. Another worthy target for your attention would be to shut down dark pools as it is abused to manipulate price discovery. Thank you in advance for your timely attention to this matter, and please live up to your obligations and help the investors from predatory behavior by financial institutions. Sincerely, Dana William Kuehneman