April 20, 2022
Good afternoon ,
The following is my comment for File Number SR-NSCC-2022-003:
The market already lacks transparency and accountability for large institutions, so disappointed this rule is being proposed.
If adopted this rule would increase avoidance of true market price discovery through onward lending. It would also remove the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. Youre enabling and by adopting this, encouraging illegal behavior in what is to be a free and fair market
It's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting which is almost always the retail trader.
It is frustrating to say the least, that seeing rules like this being proposed, seemingly only ever favor the reckless institutions and aim to hurt retail traders. Hopefully you'll reconsider your decision making on regulations with only bad actors In mind, as we've been educating ourselves a lot more over the past couple years. Retail is watching everything you do.