Subject: File No. 4-581
From: William S Tennant
Affiliation: Retired attorney/investor

May 15, 2009

Your stealthy elimination of the "uptick rule" (Rule 10a-1) was in part responsible for the stock market melt-down Reinstate that Rule and strengthen it if possible. I concur with the views expressed by Mr. Stephen Sigmon in his article which appeared in The Virginian-Pilot on 11/30/08.

In my view, your action in eliminating a venerable, effective rule is a classic example of a disfunctioal bureacracy.