April 20, 2022
The proposed rule: SR-NSCC-2022-801, has no place being implemented in a free and fair market. I oppose this rule and any variation thereof. Namely, because it does nothing but embolden the efforts of those engaged in naked short-selling. The attempt to implement such a rule does not appear to be in line with the duty of the SEC to uphold the rights of all investors. Rather, it more closely resembles an act of desperation to appease market makers who require shelter from the law for over-exposing themselves on arrogant, ill-thought out, and criminal trading practices.
Allowing for placeholders (SFTs) to trade hands rather than actual shares is laughably preposterous and certainly could have no other value organ than aiding and abetting financial criminals.