April 20, 2022
(Release No. 34-94694 File No. SR-NSCC-2022-003) This proposal is preposterous. It serves no purpose other than to promote obscurity and enable wrongdoing and provide a new route of deceit by market makers. We, as retail investors, have constantly been told we aren't in the cool investors club and this is just a slap in the face. Despite our whole futures being gambled away constantly though poor management of forced 401k elections or fraudulent economies we now provide another means for the rich to continue cashing out on our hard earned money.
This document states: \"NSCC understands that SFTs provide liquidity to markets and facilitates the ability of market participants to make delivery on short-sales, and thereby avoid failures to deliver, naked shorts, and similar situations. On a typical Business Day, The Depository Trust Company (DTC), an
NSCC affiliate, processes deliver orders related to securities lending transactions on securities having a value of approximately $150 billion\" yet time and time again we have been told it is not possible to naked short a stock. Are we saying on one hand it is impossible to do or are we saying it is done so frequently we need a new investment vehicle to protect the big guys from the risk? Failures to Deliver should not even be possible without a strict and severe fine and not a small 'cost of doing business' fee. There are currently no commensurate repercussions unless you are an individual investor.
The digital world and economy should no longer be run by corporations and the wealthy elite that are given advantageous conditions. All investors should have equal say and opportunity. The DTCC and NSCC Have been time and time again at the root of issues in the market relating to transparency and wrongdoing yet they are constantly praised and reinforced through rulings like this.
Please reevaluate this and rule in favor of equality, transparency and justice. Do not allow these 'too big to fail' companies bring the rest of us down with them.