Apr. 20, 2022
To whom it may concern, I am disturbed by the content of this new proposed rule SR-NSCC-2022-003. It would allow for Failure To Delivers (FTDs) to continue, which can be abused by market makers to control the price of equities and securities. This does not, in any way, benefit retail investors and is liable to be harmful to the vast majority of people. Please do not allow Security Financial Transactions to allow new methods of negligence, whereby the financial obligations of the FTDs get passed along instead of settled. This proposed rule attempts to create short-term stability, but allows for abusive practices where market makers are not held accountable for their failings. This is not acceptable. This creates an opportunity to harm retail investors and violates our right to a free and fair market. In order for the equities markets to be fair, market makers must be held accountable for their financial obligations, regardless of the short or long term consequences they face. I request that this proposed rule be denied. Thank you for your timely attention to this matter, and please honor your obligations to protect investors from predatory behavior by financial institutions. Thanks, Levy Minchala