Apr. 20, 2022
Dear SEC, I am emailing with regard to the proposed rule SR-NSCC-2022-801. I am in complete opposition to this rule. As I’m sure the general public would be if they knew it’s implications. It is abhorrent for the retail investor who you are supposed to represent. The market as it stands lacks transparency and apparent accountability for large institutions. I am concerned regarding SR-NSCC-2022-801. This rule affects 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 an unsafe and harmful business practice. Can you elaborate on how this makes the market fair? To me it proposes an unfair advantage for market makers and big institutions at the expense of the free market and retail investors. FTDs are already "reset" through various methods such as using derivatives, not allowing them to reach their 30-day mark where the security needs to be "delivered." This is very frustrating to see rules like [SR-NSCC-2022-801](https://www.reddit.com/r/Superstonk/comments/u7bwvf/srnscc2022801_is_the_new_srnscc2021010/) being proposed, as they only favor reckless institutions. Hopefully, the SEC will consider the words of retail investors on present and future regulations, as retail investors continue to get the "short end of the stick" throughout the investment world. I firmly believe [SR-NSCC-2022-801](https://www.reddit.com/r/Superstonk/comments/u7bwvf/srnscc2022801_is_the_new_srnscc2021010/) is an insult to anyone and everyone who has ever purchased a security in our markets. Through this new proposal, the NSCC would have you endorse their criminal activities under the illusion of fairness. This same policy has been proposed TWICE before under different guises and has previously been "shot down" or revoked. Large financial institutions are horrified that they might no longer have the option of taking risky bets and not facing the financial or legal consequences. It sickens me to see market makers and financial institutions propose such blatant exploitative methods repeatedly, just waiting for the day one of their biased and unfair proposals slips through. They think they are above the law, the consequences, and the investors they exploit. I would firmly ask that you deny the [SR-NSCC-2022-801](https://www.reddit.com/r/Superstonk/comments/u7bwvf/srnscc2022801_is_the_new_srnscc2021010/) proposal. As a retail investor, I implore you to take this threat to the very sanctity, fairness and transparency of our markets for what it is - a threat against every single retail investor. Please do your part and stop this. Signed, William Hogg Sent from my iPhone