Apr. 20, 2022
To whom it may concern, I would like to voice my disagreement with the proposed rule SR-NSCC-2022-003 and voice my concern for the following reasons: This proposal will affect the market in a negative way by removing any consequences of heavy naked short selling. This will lead way to more possibilities of abuse by naked short sellers, who currently only suffer a fine that is insignificant to the amount of profit earned through naked short selling practices. Investors sometimes make bad investments, and they have to accept the consequences. Market makers who naked short sell should suffer the consequences of their actions. Removing Failure-To-Deliver penalties through technical jargon like Security-Financial-Transactions is honestly an attack on retail investors through means of obfuscation. If this rule is passed, it will undoubtedly cause retail investors to lose faith in the markets.