April 20, 2022
SR-NSCC-2022-801 is a massive injustice to anyone who isn't a hedge fund, investment bank, or institutional investor. As a retail investor and financial advisor, all I want is fair markets for everyone, not just the wealthy. This allows Failures to Deliver to increase and will eventually cause massive damage to our global economy. It may be difficult to see now, but people/companies/hedge funds will get greedy and push this rule to the absolute limit and then push even more. When it fails, taxpayers will be stuck footing the bill. Please remove this proposed rule and please do not try to propose something similar again in the future as iterations of this have been rejected in the past and if this were up to a vote, it would get rejected every single time.
As the SEC, your job is to protect investors which this does not do. The best way to protect investors is to get rid of Payment for Order Flow, ban dark pool trading, and to eliminate short selling. We need accurate price discovery, and all those practices do not allow for that. Our markets are more manipulated than ever and it is your job to fix that.