Subject: File No. S7-02-10
From: David Shutvet

June 21, 2013

Dear SEC:

I have been an  investor for about 25 years now, and sadly I have lost much more than I made. Our securities / investment industry is regulated by the SEC and although the SEC has made big changes recently it is still a very corrupt manipulated industry that need many changes.

Market Makers manipulate the market on a daily bases and makes it very unfair to small investors. They can completely put blocking orders in to control the movement in the direction they wish. They can see market flow orders and manipulate the price to their advantage.  The SEC must change this as it is not a fair system but one run by greed.

Short selling has very much abused the system, and naked short selling should be illegal. How many good companies have been destroyed or driven into bankruptcy by this very abusive short and naked sellers – I can name many.   The industry uses short selling to help manipulate a security, and the 3 day rule to cover is a joke as they just all work together to trade shares between them only to manipulate the system.

Short sellers and naked short sellers should Not be allowed to vote shares they do not own. This must be changed. Not sure how the SEC ever approved this but it is only good for manipulating a security – which is illegal. Short sellers could vote in a direction that is not in the best interest of shareholders or the company. Wake-up SEC and change this!

Insider Information – Our public traded companies are nothing but personal piggy-banks for the greedy insiders. They truly do have inside information and use it with their Form 4 buys or sells. Maybe this could be controlled with a 1 month time delay on their buy and sells – so example they file to purchase, or sell shares and those shares will get purchased or sold one month after at market price.

This is just a few ideas that the SEC should explore to make our system fairer.


David Shutvet