Subject: File No. S7-19-07
From: Alan Holman

September 11, 2007

To SEC: There is a need for prompt and accurate clearance and settlement of securities transactions are necessary for the protection of investors and persons facilitating transactions by and acting on behalf of investors.No market maker exemption equity or options should ever exceed 30 days regardless of whether the failed trade was on a Regulation SHO threshold security list or not. Trades executed under such exemptions should be forced to be closed within 30 days and closed with the purchase of a share that will be guaranteed delivery and not through the purchase of a share that results in a secondary fail and
a restart of the clock.There are far too many unscrupulous market makers out there working together in collusion to roll failed trades amongst each other to prevent companies from appearing on SHO or to roll the date on the
origination of failed trades.The SEC has failed to really address the issue of settlement failures in the marketplace. The fixation by the SEC with threshold levels has created an illusion that a problem was being solved while leaving gaping loopholes for abuses to occur in smaller more controlled fashions. The law does not differentiate a threshold failure from a non-threshold failure and yet the SEC has.For those that believe that the elimination of the grandfather clause will end all abuse guess again.This elimination only comes into play with settlement failures associated with the trading that generally takes place in the 5 days prior to a company being listed on Regulation SHOs threshold security listing. Today the SEC has the opportunity to focus directly on the laws as mandated by Congress Prompt and Accurate Settlement of Trades. I suggest the SEC create laws,that will deter such future violations that manipulate our markets and destroy the integrity and confidence you are chartered to protect.The future of our markets is in the hands of the SEC Commission staff today. I find it deplorable and that the SEC has allowed brokerages and their market-makers to steal my hard earned cash, I have invested in the stock market. I feel, like many do, that the SEC Commission has stalled long enough to institute proper regulations in the marketplace. Please tell Ms. Anette Nazareth, that the average Joe or Jane, DOES expect to make a profit on our stock investments. I and many find it, very con-descending towards the hard working American Investor that that remark was ever stated by a SEC Commissioner.