February 1, 2009
Dear Chairman Mary Schapiro,
One of the biggest errors in judgment of the last Administration was the withdrawal of the uptick
rule. It has led to unnecessary ravages in the financial markets. Sound stocks have been
damaged. Pension Funds, personal savings and much more have been decimated. The
question is to whose gain? It is time to create rules to protect the average Canadian and their
savings.
Also the practice of naked short selling is a criminal activity and its perpetrators should be
prosecuted accordingly.
Please reinstate the uptick rule before it is too late, and start doing your job with respect to
policing and punishing naked short sellers.
Thank You,
CIGA Glen Gangnes