Apr. 20, 2022
Hello dear SEC, I am a retail investor who has hopes for a fair and free market. That's why I was eagerly looking at the new regulations on FTDs and naked shorting. And I have to say, I'm really disappointed. Instead of finally taking consistent action against systemic risk, you continue to allow naked shorting with this regulation. And if a hedge fund or market maker can't locate, instead of FTD they are going to create a temporary IOU and when the time comes, they can't locate again and they are going to create another IOU to replace the original IOU and keep getting away with the scam that they sold a share they never bought. Stop this scam! This is your job! The people who cause these systemic risks love to exploit these loopholes and will cheat. They will exploit things to abuse short selling even more. I thought that we as retail investors would fix the market through activism, but it seems to be getting worse. This is the way to make a system look fair, while it is not fair at all. Because only the rich can afford the expensive consultants to find all the potential loopholes complex systems offer. So this new regulation is a disgrace and I hope it will not be implemented that way. With kind regards Jonas Knörr a concerned retail investor