Apr. 20, 2022
Hello SEC, I am a retail investor invested in U.S. markets, and would like to comment expressing my opposition to this proposed rule. To my understanding, this rule goes against everything most would consider a 'fair and transparent market'. As per the wording of the rule, it sets out to "alleviate Fail To Delivers", but in action does nothing to eliminate them, and if anything only lessens the negative consequences of short-selling a stock and being unable to deliver the shares owed to the purchaser. This will only encourage rampant short-selling, particularly naked short-selling, which if allowed to continue without consequence will lead to inaccurate (if not non-existent) price discovery and an overall degradation of market structure. This rule leverages the complexity of financial vehicles to put power in the hands of institutions, effectively safe-guarding them from their own bad bets. Passing this new rule would only further deteriorate the American public's, and indeed, the global community's faith in a free and fair market. I urge you to withdraw this proposal immediately. Thanks, Adam Conner