Apr. 20, 2022
"Finance is ultimately about trust", said Gary Gensler in some interviews and also in his video tweets... And the 1934 Acts created post the 1929 depression endorses that standpoint. So this new rule SR-NSCC-2022-801 it's ripping all the concepts of a fair market (not saying it's fair right now though). It's a new layer of complexity just only to help Wall Street to cover their losses due to massive bets along with reckless leverage, in January of 2021, Archegos; a family fund, was blown up due to abusive use of derivatives instruments, which is harder to overlook due to the complexity. Also this rule is not solving a problem but creating a new one at the expense of the taxpayer. This is outrageous, it's a money printer for FTDs and a way to never commit to your financial obligation, if you can't keep with the "bet", you should close your position... This is not facilitating the ability to deliver a naked short, it's a way to keep indefinitely the position opened, never bought back the share you naked short and you have a free money printer. Whoever wrote this rule should be under investigation by the DOJ. SFTs is a way for the SEC to protect only Wall Street and take everything from everyone else, this is showing that not only the DTCC but the others participants are working towards doom the entire market just to help a small group of wealthy people. Complexity should be removed from the market, more simple and fair rules. The SEC is helping Wall Street to go on with fraud, corruption and greed. The current chair of the SEC doesn't stand for what he's saying and preaching. Sincerely, Edivino Boveto Junior Retail Investor