April 20, 2022
Dear SEC,
Thank you for taking time to review my comments regarding the harm to retail investors if the proposed rule change SR-NSCC-2022-801 is passed.
This proposed rule change is specifically written as a benefit to hedge funds NOT retail investors, as mentioned on page (3) of the 188 page document, \"...transferring those securities temporarily to a borrower (typically a hedge fund).\"
This would enable hedge funds to continue their practices of phantom shares and fails to deliver, using their High Frequency Algorithms against retail investors who are prevented from such activities via various rules about \"day trading,\" \"swing trading,\" and delayed market data.
Retail investors are already suffering losses due to these failures to deliver and rules that prohibit them access to the same trading practices available to hedge funds, market makers, and brokers. This makes it difficult or impossible for retail investors to be able to use securities they have already paid for while allowing even more special rules that would enable hedge
funds to borrow securities via more complex transaction methodologies not available to retail investors in the the free market that the NSCC / SEC/ DTCC is supposed to protect and encourage.
I watched in horror as my family struggled to find a way to stay in the generational home two of my grandparents passed away in, while naked shorting, failures to deliver, and phantom shares were exploding the market in 2007. They continue to struggle to stay in this home while hedge funds continue to undermine our country's free market.
Please, do not allow this rule change to pass. Please, protect retail investors.
Thank you for your time and consideration.
Best Regards,
Carmelita Jaramillo