Apr. 22, 2022
Hello, I am a retail investor who is deeply concerned that proposed rule SR-NSCC-2022-003 will create an unfair and unbalanced market. While there is concern over the amount of FTDs and other potential liabilities that may exist in our current market, and the effect those liabilities will have to our market, changing the rules in the 11th hour to protect those who have allegedly created this problem is not the answer. When those who take advantage of the system are not held to the same standard as others in the same field, it empowers them to continue with the same behavior that has led to the issues in the first place with little fear of consequence. Rules are in place for a reason, and when participants make investments that don't turn out in their favor they don't simply get to change the rules to get out of what gamblers would call a "bad bet". I was raised to own up and learn from my mistakes, and also always pay my debts with graciousness and humility even if at great personal cost. If the outcry from retail investors like myself is ignored, at the very least if the rule is enacted it should be rewritten and only be applied to NEW investments starting at the time of the implementation of the rule, with no grandfathering in of previous investments. This rule does not make things fair or equitable for ALL INVESTORS, it only opens the door for certain parties to be more reckless with their shorting of certain stocks without fear of consequence. Thank You for your time. Sincerely, Jeff Telofski Concerned Retail Investor