Apr. 20, 2022
I am emailing to let you know I am against the latest rule proposal SR-NSCC-2022-801 and am extremely concerned with what is being proposed. This rule would hinder price discovery around lending and removes a large amount of risk around engaging in share lending (shorting). This risk is a large deterrent for this harmful business practice and would provide an unfair advantage in our markets for large APs and market makers. This would further incentivise those reckless large institutions to engage in shady and manipulative practices and be unfavorable to shareholders of any security. All this rule does is help solidify the status quo against retail investors. FTDs and naked shorting are already rampant in our market and this rule not only does not address those issues adequately but can enable further manipulation by decreasing risk and transparency. SR-NSCC-2022-801 is an insult to retail investors as well as anyone who believes in a fair and open market. This policy has already been struck down twice before and it is very disappointing to see their perseverance to try and slip exploitative rules through the system. I firmly ask the SEC to deny SR-NSCC-2022-801 proposal and urge them to consider the impacts to the sanctity, transparency, and fairness of the greatest marketplace in the world. Signed, Ryan Sanford