Apr. 21, 2022
Dear Sir or Madam, I am a retail investor from Germany who is invested in the U.S. stock market. I would like to express my concerns about the proposed rule SR-NSCC-2022-003. This rule does nothing but gives power and room to unserious financial institutions who would abuse the mechanisms explained in the proposal. It was set in place to prevent "fail to deliver," but inaction does nothing to eliminate it, and in fact protects the action of uncovered short selling, which is already illegal. This rule takes advantage of the complexity of financial instruments to put power in the hands of financial institutions and effectively protect them from their own bad bets. Passing this new rule would only further weaken public confidence in an American "free and fair market".' I urge you to withdraw this proposal immediately. Best regards from Germany Achim Hansen Germendonks Kamp 7 47443 Moers Germany