Apr. 20, 2022
Hello, The following is my comment for File Number SR-NSCC-2022-003: The market already lacks transparency and accountability for large institutions, so I am very upset that this rule is even being proposed. This rule would increase avoidance of true market price discovery through onward lending. It removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be extremely 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 would this contribute at all to a "fair" market? This is extremely frustrating as a retail investor to see (proposed) rules like this that ONLY favor the reckless behavior of institutions that inevitably make us foot the bill for their actions. 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 years.