Apr. 27, 2022
Dear SEC Committee, Rule in question: SR–NSCC– 2022–801 As a retail investor I am highly disturbed by the content of this new proposed rule that would effectively allow for FTDs (Failure To Deliver) to continue and worsen, which can be abused by market makers and used in conjunction with illegal naked shorting. Gary Gensler has even publicly addressed the known conflicts of interest that take place with dark pool trade routing leading to further price discovery issues on security trading. This does not in any way benefit investors and in fact could be extremely harmful, which is anathema to the entire purpose of the SECs very existence. Please do not allow SFTs (Security Financial Transactions) proposed in this rule, to create new and potentially endless delays on FTD, whereby the very real financial obligations of the FTDs get passed along instead of settled. There is no benefit to this rule and it creates an opportunity to harm retail investors. Market trust is at all time lows and investors feel manipulation is spreading like a virus in our "free markets". Please remove this proposed rule and do not try to propose similar rules again in the future. Iterations of this have been rejected in the past and investors will continue to voice their opinion to have these reiterations cancelled. It is clear that this is all a waste of time and money. The mission of the SEC is to look out for the well-being of investors such as myself, so I would propose that you direct your attention to doing so. This would best be accomplished by banning Payment For Order Flow which is inherently harmful to retail investors. Thank you in advance for your timely attention to this matter, and help the investors that you promise to represent. Sincerely, Christian Cotroneo