Apr. 20, 2022
To Whom It May Concern: I am writing to express my strongest disapproval of this proposed rule (SR-NSCC-2022-003). It clearly runs contrary to the interest of the retail investor by further subverting true market price discovery. Gary Gensler is on record stating that over 95% of retail buys do not hit lit markets. That is an astonishing admission! How is the retail investor to determine the supply and demand of a given stock and thus its accurate price? If the SEC will not protect retail investors, who will? This proposed rule adds insult to injury. It decreases transparency, making allowance for continuous lending, and creates an environment that is even more conducive to fabrication of shares and naked shorting. This proposed rule must be withdrawn and the SEC must take action to end the seemingly-limitless fabrication of shares and lack transparent market price discovery. Retail investors do not have a fair market, and most do not yet know that this is the case. Sincerely, Jeremy Rhode