April 20, 2022
This rule is a blatant undermining of past comments for similar rules. If the NSCC wants to keep passing the same rule over and over again, it may as well keep the same wording. This rule would allow FTDs to keep accumulating without a date forcing an organization to close their short positions. What's the point of having rules regarding FTDs and share lending if the NSCC wants to just put them off indefinitely. This is a slap in the face of the SEC as well as an attempt to circumvent the current rules. Whoever wrote this up should be disciplined. If I haven't made myself clear, do NOT allow this rule to pass, it is not the best interest of retail or market fairness.