Apr. 21, 2022
Hello, The fact is, this rule does nothing to strengthen the market, or make it free and fair. This is clearly a way for hedge funds and big banks to skip out on closing short positions and clearing FTDs (Fail To Deliver). This is just another way to make the market more opaque, and steal from retail investors. Should a retail investor make a bad investment, we are told "trading is hard, don't ya think?" and "leave it to the professionals". When hedge funds do it, they create new rules, such as this one, to back out of having to honor their obligations. In short, this rule is designed to allow fraud on a massive scale. Frankly, the passing of this rule would announce to the world that the SEC, NSCC, DTCC are all aware of and support said fraud. The astronomical amount of FTDs and open short positions is destroying the American economy, bankrupting businesses, and killing jobs all in the name of making the hedge funds and big banks more money. This rule ensures there ability to do so. Withdraw the rule, Michael Riga Sent from Yahoo Mail on Android