Apr. 20, 2022
I am a retail investor, I strongly believe this rule would break fair market mechanics and give too much power and scope to those who would abuse such mechanics. The stated intention is to "alleviate Fail To Delivers", but in reality it does not propose anything to eliminate them, instead, it proposes a method to be allowed to close them at a lower price than the current market price, effectively protecting the already illegal action of naked short selling. This rule offers protection to big shorting entities, safe-guarding them from the consequences of their own actions. Passing this new rule would only further deteriorate the world public's faith in America's "free and fair market". I strongly believe this proposal should be immediately withdrawn to protect the market from abusers and avoid further deterioration of the US stock market image to the world. Louise Bichan