Apr. 20, 2022
To whom it may concern, It is with a heavy heart and great consternation that I write this notice. I am profoundly shocked at the lack of action on behalf of the retail investor over the course of the last 16 months. After the turmoil of COVID and the ravages of inflation, I see a proposed action which is clearly against the "little guy" who has suffered most from both of these events. Please have it noted here that I fully oppose any proposed action that will, in the future or retroactively, make activist short-selling safer for hedge funds or investors in the name of "market stability". This proposed rule is a slap in the face to those investors who for more than a year have pled with the SEC for a fairer market with more transparency, especially as it relates to short selling. To insulate only select parties from the consequences of malfeasance or poor judgment is a theft of opportunity from those who at the same time take a counter position of integrity and thrift. By allowing these allegedly equitable swaps to take the place of true settlement and closure, this policy will only encourage future abuse of the already fragile system. Furthermore, it cannot be said that the substitution of one security for another as a means of settlement is of equitable value when true price discovery is being hampered. Even if the securities have the exact same value at the moment, each security represents a distinctly different opportunity. Sincerely, A concerned retail investor