April 21, 2007
Please just enforce the laws are they are.
1. Eliminate the Grandfather clause in Reg SHO which allows those who have sold "unregistered" naked short shares--i.e. counterfeit shares
2. Eliminate NAKED short selling totally; if the shares are not borrowed, then naked shorting happens... make them borrow the shares first.
3. Eliminate the Market Maker exemption; it appears to foster naked shorting and, as far as I've seen, does not contribute to "liquidity" in the market.
4. I understand SHORT Sold reports will be a fact every 2 weeks in the Fall 2007; it needs to be weekly.
5. Reg SHO need teeth to enforce forced buy-ins at the current 13 days.
How can OSTK and other be on Reg SHO list for hundreds and hundreds of days if the regulation is being enforced....
YOU, because you are not enforcing the SEC laws, are hurting the small retail investors. I'm disabled and have been seriously affected by having securities on Reg SHO list without having them being taken off promptly.
Please help us small investors