Apr. 20, 2022
To the SEC, In regards to the aforementioned rule, SR-NSCC-2022-003; as a retail investor, I do not support the implementation of SR-NSCC-2022-003, and am confused why this rule and previous incarnations of similar rules, keep getting created. This rule is nothing more than an opaque attempt to create another layer of protection for bad actors who utilize the market for their ill-gotten gains at the expense of retail investors like myself. Every day, thousands of investors like myself, see more and more that the SEC, NSCC and OCC are trying to pass rules that are not in the best interests of retail, (both here in the US and worldwide). As the gatekeepers of the global economy, it’s your job to create a free and fair market, to maintain regulatory transparency, and to assure the livelihood of those who invest in the US stock market. SR-NSCC-2022-003 doesn’t do any of these things, it only serves to effectively allow failure to delivers (FTD’s) to perpetuate and worsen, and used in conjunction with illegal naked short selling practices and dark pools, provides no reasonable fiduciary protection for retail investors, who have no access to these unfair market practices. Please do not allow Security Financial Transactions (SFT’s) proposed in this rule, to be allowed. This would only serve to create new and potentially endless layers of regulatory loopholes from which bad actors who abuse market privileges could pass along their financial settlements of shorted stock. There is little accountability in the market as it stands now, and if this rule is passed, there will never be any need for shorts to close their positions. The only thing this rule serves, is to allow elite investment entities more opaqueness at the expense of the retail working class. Please remove the proposed rule, and furthermore, please do not attempt to try and propose similar rules in the future, as iterations of this rule have been rejected in the past and continue to be rejected by educated retail investors, who just want fair and free markets for everyone. The mission of the SEC is to look out for the well-being of all investors, not a select class of few. Might I suggest time, money and energy would be better served to that end. True price discovery is to the benefit of everyone. Sincerely, A Concerned Investor Sent from my iPad