April 21, 2008
Dear Ms. Morris,
The SEC has refused to implement and enforce Section 17A of the 1934 Securities Exchange Act – which requires prompt clearing and settlement of trades, including transfer of record ownership, as well as a linked clearing and settlement system – even though investors are harmed by the current de-linked scheme, as well as the pandemic delivery failures evidenced in the FOIA data. This flies in the face of investor protection and the notion of fair and safe markets.
WAKE UP ..DO YOUR JOB
The logic behind this SEC rule is to allow market makers to create liquidity ...NOT LOGICAL
Enforce of ALL provisions of Section 17A of the 1934 Securities Exchange Act ..what are you waiting for ??
were not going away .
Transparent and accurate reporting of market data, including complete daily short interest and delivery failures would also be nice ,but hey , i dont want to push it ....just do your job and start enforcing the LAWS.