From: Gilbert M. Erskine |
The SEC's Director of market Regulation, James A. Brigagliano, made a comment in his address to the forum at City Univ of NY [03/22/07] on amendments to RegSHO: "The SEC will consider how any change in RegSHO could affect prime brokerage arrangements." Forgive me if I misunderstand this, but it appears he is saying the SEC will move to eliminate the rules that devastate share prices of targeted companies---the grandfather clause and the option market maker exceptions--- except and insofar as the changes do not interfer with the intentions of the powerhouse Wall Street firms. Mr Brigagliano does not inspire confidence that the SEC is looking after the interests of the investing public. GILBERT M. ERSKINE |