Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-03 I am writing as an international retail investor, very concerned about the implications of the rule you proposed. After going through the file it is very clear to me that the rule in fact acts against the interest of retail investors, whom the SEC is supposed to protect. The rule acts against the interest of retail investors by increasing the possibility for avoidance of true market price discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting. 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 the 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. This proposed rule acts in the opposite direction. I consider that transparency is essential for a fair and sound economy, as well as for democracy. I sincerely hope that whoever this concerns, will re-evaluate their position and withdraw this ruling completely. thank you Scott Rae