Apr. 20, 2022
To whom it may concern, I am incredibly concerned with the proposed rule - SR-NSCC-2022-801. It promotes anything but the notion of a fair marketplace. It is terrifying to me as an investor that FTDs (Failure to Delivers) would be allowed to continue and on a larger scale under this rule. This allows for abuse by market makers, and in conjunction with the practices of illegal naked shorting and dark pool trade routing, would allow for malicious price suppression. I am asking you to not allow these FTDs to be passed along. The Security Financial Transactions proposed in this rule would do just that. The kicking of the can, while promoting a stable market in the short term, ultimately allows market makers to never be held accountable. This in turn leaves no deterrent for for abuse, and creates an unfair environment for investors. In essence, this rule would suggest that our markets are not free nor are they fair. The very short term stability this would offer would be offset by the years if not decades of tension and unrest caused by rampant abuse in our markets. It is short sighted to say the absolute least. I was recently made aware that iterations of this rule have been proposed previously. Please withdraw this rule, and again for the sake of the free and fair market it is your duty to protect, do not allow anything similar to be proposed again. I can’t thank you enough for your attention to this matter. It is of dire importance and I appreciate the work the SEC is doing to protect investors like myself, as well as future investors from abuse and manipulation. We are all deserving of a free and fair market. Withdrawing this rule would promote that idea, and instill confidence in retail investors that the SEC is performing its duties and obligations in earnest. Sincerely, Emmett Meiners