Apr. 20, 2022
To whom it may concern: As a retail investor, I highly objected against Proposed Rule Change SR-NSCC-2022-003 for what I believe to be very obvious reasons. It is unbelievable to me that a rule like this is even proposed. It is not a 'rule'. It is a loophole. It appears to be specifically drafted in order to allow bad actors in the market (illegal naked shorting & failures-to-deliver) to have yet another loophole in order to continue their illegal (definition: against the law of the land) practices. It is always in the name of liquidity. Investors don't mind poor liquidity. If a security's bid/ask spread is large and there is a stalemate in the market - so be it. We can wait. I have read through many of these rules and have yet to find one that plainly benefits retail investors. It saddens me that the SEC, which was created to protect the integrity of markets and retail investors, increasingly appears to do the exact opposite of what it was created to do. Think about your children and your children's children. Are they going to always be safe from the current illegal practices? Aren't they retail investors too? Are all your family, your loved ones? What would history remember you? We are losing faith. Shame on whoever approved this 'rule' to even be considered for implementation. Regulators should do their jobs that is to regulate and ensure a free and transparent market that is fair to all. Thanks, A concerned investor in the U.S. "free" markets.