Apr. 20, 2022
After careful examination of the proposed rule changes of I can confirmed that there is nothing in these rules that may help to build the transparency & fairness for retail investors (in reality it is the opposite of transparency). The market already lacks transparency and accountability for large institutions, so I'm very disappointed this rule is being proposed. This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. It's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a "fair" market by any means...? It doesn’t. ETDs are already "reset" through a variety of methods such as using derivatives not allowing them to reach their 30 day mark where the security needs to be "delivered." This is very frustrating to see rules like this being proposed that only favor reckless institutions. Hopefully you'll consider the words of retail investors more with your decision making on regulations, as we've been educating ourselves a lot more over the past couple years. Sincerely yours, Retail Investor