Apr. 20, 2022
Dear Sir or Madam, Hello, I am a retail investor, a former US Marine, and a combat veteran. I am writing to you today because I am highly disturbed by a new proposed rule (SR-NSCC-2022-801) that would effectively allow for FTDs (Failure To Deliver) to continue and worsen, which can be abused by market makers and used in conjunction with illegal naked shorting and abusive dark pool trade routing to control and suppress the price on security trading. This does not in any way benefit investors or The United States of America and in fact could be extremely harmful, which is completely against the purpose of the SECs very existence. Please do not allow SFTs (Security Financial Transactions) proposed in this rule, to create new and potentially endless layers of can-kicking to be allowed, whereby the very real financial obligations of the FTDs get passed along instead of settled. I can see how it provides short-term stability, but it also allows for abusive practices that will eventually cause widespread, systemic and catastrophic failures to our financial system and harm average Americans. This is not acceptable and creates an opportunity to harm the most vulnerable for the benefit of the wealthiest and it violates our rights to a free and fair market. The manipulation needs to come to an end. Please remove this proposed rule and furthermore please do not try to propose something similar again in the future, as iterations of this have been rejected in the past and continue to be rejected by educated investors every time they resurface. What a colossal waste of time, mine and yours, to continue to have to repeat this song and dance over and over again. The mission of the SEC is to look out for the well-being of investors such as myself, so I would propose that you direct your attention to doing so. This would best be accomplished by banning Payment For Order Flow which is inherently harmful to retail investors and which unfairly benefits Market Makers and brokers who do not have investors best interest in mind. Another worthy target for your attention would be to shut down the abusive use of dark pools by market makers such as Citadel which has been used to undermine the true value of securities traded by retail investors and to suppress price discovery. Thank you in advance for your timely attention to this matter, and I am begging you to please live up to your obligations, do your duty and protect the American people from predatory behavior by financial institutions. Semper Fidelis, Allen Caruselle (for service verification, please see: https://www.stripes.com/news/city-leaders-fight-for-peace-in-husaybah-1.49736)