July 23, 2006
The SEC is not doing its job of protecting the investor from those who are abusing the market system by naked short selling of stocks.
Reg SHO only requires the seller to "locate" rather than deliver shares and imposes no penalty on those who violate the regulation. The proposed changes to Reg SHO are a sham and do nothing to stop the NSS abuse.
Mr. Cox, so far you have been nothing but a shill for those who are abusing the system. Either show some intestinal fortitude by doing what's right or resign your chair.