Apr. 20, 2022
Good Day, As a retail investor, I am highly against Proposed Rule Change SR-NSCC-2022-003 and SR-NSCC-2022-801 for what I believe to be very obvious reasons. These are not rules but loopholes, and I also read through many of these rules and have yet to find one that plainly benefits retail investors. Please do not allow SFTs (Security Financial Transactions) proposed in this rule, to create new and potentially endless layers of changes to be allowed, through which the very real financial obligations of the FTDs get passed along instead of settled. 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. The fact that you even entertain this sort of proposal is.. interesting, to say the least. You should also make this information much clearer for the everyday investor - not everyone has the sources or ability to figure out what any of them mean, and I believe that to be intentional to keep retail investors uninformed or intimidated through highly complex processes and wording. We want more transparency, not complex backdoor solutions that enable bad actors to escape their moral, fiduciary, and ethical responsibilities as market participants. I'm sure there is a majority of people working for and representing the SEC that share the same view and are similarly frustrated at such clearly one-sided proposals. Please backtrack on this. Yours faithfully, An investor