Apr. 20, 2022
I am a retail investor, and would like to make my thoughts to this proposed rule known. This rule flies in the face of fair market mechanics, and gives unlimited power and scope to bad actors who would abuse such mechanics. It is set in place to "alleviate Fail To Delivers", but in reality it does not propose anything to eliminate them, it proposes a method to get to close them at a lower price than the current market price, effectively protecting the action of naked short selling, which is ALREADY ILLEGAL. This rule leverages the complexity of financial vehicles to put power in the hands of institutions, effectively safe-guarding them from their own bad bets. Passing this new rule would only further deteriorate the American public's faith in a "free and fair market". I strongly believe this proposal should be immediately withdrawn to protect the market from abusers and avoid further deterioration of the US stock market image to the world.