Apr. 20, 2022
Good Morning, Our markets should not have to become overly convoluted with rhetoric and legalese that the common Main Street investor cannot comprehend. On top of the unnecessary complexity that SR-NSCC-2022-801 adds it only benefits the big firms and Wall Street by offering more options to offload hyper-risky decisions and leave Main Street once again holding the bag. If we want fair and equitable markets rules should be written to give Retail Investors and Main Street more transparency and visibility rather than giving Wall Street, Banks, and Hedge Funds more avenues to abuse the system. This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. It's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a "fair" market by any means...? I don't see it. This is very frustrating to see rules like this being proposed that only favor reckless institutions. Hopefully, you'll consider the words of retail investors more with your decision-making on regulations, as we've been educating ourselves a lot more over the past couple of years. As an individual investor, I am vehemently against SR-NSCC-2022-801 and will encourage my friends and colleagues to also comment and display their resentment toward this proposed rule. Regards, William Dominguez