Apr. 20, 2022
As a retail investor concerned about the alarming lack of transparency and accountability for large investors in our current market, i strongly object to proposed rule SR-NSCC-2022-003. As far as i can see, this rule does nothing to promote fairness in the markets and serves to further facilitate and encourage unlawful market manipulation by reckless institutions. This new rule would only further slant the playing field in favor of market makers, while putting retail investors at an even greater disadvantage. The bad actors in our markets already have enough loopholes that allow them to skirt their obligations (FTDs,) and 'kick the can down the road'. SFTs would simply be one more vehicle for them to do so and one more dirty trick for them to use to screw over retail investors like myself who just want our fair share of the pie. SR-NSCC-2022-003 is a clear threat to retail investors and an affront to the very idea of fairness and transparency in our markets. The job of the SEC is supposed to include making sure our markets are fair for everyone… How can they be when the rules can simply just be changed in favor of one side when things aren’t going their way? As long as that is the case, the market will never be fair. I respectfully implore you to do the right thing and shut this proposal down. It would at least be a step in the right direction... Thank you for your attention, James A Agard