Subject: File No. S7-12-06

July 24, 2006

Securities Exchange Commision

The objective of your amendments of Reg SHO is to assure that every buyer of corporate equities in the US Market must receive their shares purchased upon delivery and clearing of funds.
Otherwise the buyer will fraudulently be deceived, since no buyer is informed that any seller is selling short rather than long.
Unless you acheive this objective,which Reg SHO does not presently satisfy,US Markets will remain unfair and deceptive.
Please do what is right and necessary to bring back the integrity to the US Markets immediatly.
Naked Short Selling or Failure to Deliver shares sold, should be eliminated from our markets entirely.

Thank you for your time.