Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-03 I am writing as an American retail investor, very concerned about the implications of the rule you proposed. After reading the file, it is clear that the rule in acts against the interest of retail investors, whom S.E.C. is supposed to protect. It does that by increasing possibility for avoidance of true market price discovery through continuous lending. It also greatly lessens the infinite risk of naked shorting. That practice, as I am sure you are aware, is by nature very risky and in many cases where it is being done illegal. 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 and soaring inflation, among other problems our society faces. The proposed rule acts in the opposite direction. I consider that transparency essential for a fair and sound economy, as well as for the democracy. Having said all that, I sincerely hope that whoever this concerns, will reevaluate their position and withdraw that ruling completely. -- Michael Parsons 7129 E 6th Ave, Scottsdale, AZ 85251 O: 480-781-0717 E: W: www.parsonsvillas.com This message and any included attachments are intended only for the addressee. The information contained in this message is confidential and may constitute proprietary or non-public information under international, federal, or state laws. Unauthorized forwarding, printing, copying, distribution, or use of such information is strictly prohibited and may be unlawful. If you are not the addressee, please promptly delete this message and notify the sender of the delivery error by e-mail.
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