Apr. 20, 2022
To whom it may concern, My name is Steven Rayson. I'm a graduating Canadian law student that has taken an interest in investing since my undergraduate degree some years ago. My specialization is not in economics and finance, but my understanding of law is sufficient that I can engage with the topic to a superficial degree. I am abhorrently against proposed rule SR-NSCC-2022-801 and the proposal to add 'Securities Financing Transaction' (herein "SFT"). It is an insult to investors that price discovery can be determined by the SFT Members (Page 99 - "Contract Price" definition) rather than the market as a whole. I am horrified that, through my interpretation of Section 5 of proposed Rule 56, it seems that the Transferor is being given powers to evade obligations, or atleast stretch them out further to avoid fulfilling contracts and transactions. At this time, there has been so much blatant and obvious corruption in the United States that the rest of the world is no longer interested in a crumbling and fraudulent market. We are trying to take our money out of your draining pit, and will resist EVERY attempt to make that effort tougher. All eyes are on the SEC, and it is in your best interest to withdraw the proposed rule. Sincerely, -- Steven Rayson, BA (Hons) Juris Doctorate Candidate, 2022 Lakehead University, Bora Laskin Faculty of Law CONFIDENTIALITY NOTICE: The contents of this email message and any attachments are intended solely for the addressee(s) and may contain confidential and/or privileged information and may be legally protected from disclosure. Any unauthorized review, disclosure or distribution is prohibited. If you are not the intended recipient of this message or their agent, or if this message has been addressed to you in error, please immediately alert the sender by reply email and then delete this message and any attachments. If you are not the intended recipient, you are hereby notified that any use, dissemination, copying, or storage of this message or its attachments is strictly prohibited.