Apr. 20, 2022
The following is my comment on File Number SR-NSCC-2022-003; As a retail investor, I am very concerned about the implications of the rule that you have proposed. After reading through the file it's undeniably clear that the rule acts against the interest of all retail investors, whom the SEC is there to protect. It does so by increasing possibility for avoidance of true market price discovery through continously lending. It also significantly lessens the infinite risk of naked shorting. That practice, as I'm sure you are aware, is by nature very risky and for a good reason. Without that risk, the institutional investors are free to essentially gamble with taxpayers and retail investors money, posing systemic risk to the integrity of the US stock market. What we need is more transparency in how the stock market works to level the playing field between retail investors and institutions, especially considering the widening wealth gap and soaring inflation, among other factors. The proposed rule acts in the opposite direction. I consider transparency essential for a fair and sound economy, as well as for the democracy. Having said all that, I sincerely hope that you re-evaluate this rule and withdraw the ruling completely.