Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-03 To whom it may concern, I am writing this as a retail investor, who is very concerned about the implications of the rule above proposed. After going through the file a few times, it seems crystal clear that the rule in fact acts against the interest of all retail investors, whom SEC is supposed to protect. It does that by increasing possibility for avoidance of true market price discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting. That practice, as I am 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 US stock market. What we need is more transparency in how stock market works to level the playing field between retail and institutions, especially considering the widening wealth gap, soaring inflation, and many more problems our society faces. The proposed rule acts in the opposite direction. I consider that transparancy essential for a fair and sound economy, as well as for the democracy. Please reconsider your options and where your loyalty should lie, with that of the people you are sworn to protect. Kindly, Roberto Preciado