Apr. 20, 2022
As a very concerned retail investor, the new proposal for SR-NSCC-2022-003 appears to (yet again) equip large financial institutions with ANOTHER unfair advantage. Shorting companies SHOULD carry an infinite risk as to curtail the incentive of driving them into bankruptcy. Why perpetuate a system that clearly is already plagued by FTDs, naked short selling, and void of obligations to deliver ACTUAL shares? In a poker tournament, if a player runs out of chips, you're eliminated from contention. Imagine pulling lint from your pockets and convincing the dealer that they hold the same value as poker chips? If it sounds ridiculous, its because it is. Just like this ruling. Casinos have more rules, regulation, and OVERSIGHT than the "fair" market at this point. Quite frankly, I am absolutely appalled and disgusted by the inner workings of the market. The fact that a ruling of this nature is even being considered (3rd times a charm), affirms my lack of faith in the SEC. Contrarily, it begins to portray the agency as an accomplice to destructive and borderline criminal activity that has previously been view as the "norm". Not anymore. Signed, Pissed off investor