Apr. 20, 2022
The following is my comment for File Number SR-NSCC-2022-03 I am writing as a retail investor living in the United States, and I am very concerned about the implications of the rule you proposed. After going through the file twice, it is very clear to me that the rule in fact acts against the interest of retail investors, whom SEC is supposed to PROTECT. It does that by increasing the possibility for avoidance of true market price discovery through continuous lending. It also significantly lessens the infinite risk of naked shorting. That practice, as I am sure you are aware, is by nature very risky and for a good reason. Without that risk, the institutional investors are free to gamble with taxpayer and retail investor money, posing systemic risk to the integrity of US stock market. We need is more transparency in how the 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. This should be common sense to those of you working at the SEC, and I’m sure it is. Untie your hands and do your jobs with some form of morality. I consider market transparancy essential for a fair and sound economy, as well as for the democracy. Having said all that, I sincerely hope that the SEC will reevaluate this issue and make the moral and just choice for the American people for whom you work for, average people. Not banks, not hedge funds, not market makers. They are not your boss. We The People are your boss. We The People pay your salary. Do what is right and do not put this ruling through.