Apr. 20, 2022
I am a retail investor and after seeing what this new rule is trying to implement I want to express my strong objection to this new rule being proposed. Implementation of this rule will allow Failure To Delivers (FTDs) to accrue, which can be abused by market makers to inhibit true price discovery. There can be no further trust from retail with rules such as this. Allowing Security Financial Transactions (SFTs) proposed in this rule would add yet another way for big Wall Street firms to hide data from retail, and just further cause everyday people to stop putting their money in the stock market. While many rules are implemented for the sake of providing liquidity to markets, it is becoming clear that market makers take advantage of these rules. SR-NSCC-2022-801 will allow for less transparent markets and will further erode the trust of retail investors who are only looking for a chance to participate fairly in markets. Also, I urge you to stop proposing similar rules like this in the future. Rules like this have been rejected by retail investors in the past already, and rightfully so. Thank you for your time. Josiah