April 20, 2022
It is truly absurd to be a retail investor considering the past two/three years. Time after time repeatedly, done with no shame, big fishes in the stock market - Wall street, Brokerages, and even Market Makers are all finding a way to take advantage of retail.
Throughout the past two years, whether it was through: congressional hearings, previous hedge fund managers, or financial experts, it's pretty obvious the effects of PFOF, dark pools (said by Gary Gensler himself), and other market entities infringe upon retail investors' right to a fair and free market.
And it's happening again. With the proposal to ratify SR-NSCC-2022-801 - a proposal, now in its second time running - one that was previously denounced by retail for being a malicious tool, which allows Wall Street firms to cellar box any company of their choosing.
The first time this proposal was made in SR-NSCC-2021-010, the SEC decided to side with retail investors and maintain the veracity of US markets. So I'd like to remind you - the person reading my concerns - to not be complacent. We might've won the first time, but this time around it will be a lot harder, I'm sure of it. As a result, I'd like to know that you're putting in at least as much effort as I, when writing this letter to you. Because without you, an employee of the SEC, there cannot be a true market.
This proposal will allow Wall Street to concoct a variety of ways to hide any illegal naked short positions that a firm may hold. Since naked shorting is illegal (other than for some market participants), The SEC should not allow laws, which make it easier to hide such positions, to pass.