Subject: File No. 4-627
From: Brian Sutcliffe
Affiliation: Advisor

May 9, 2011

I believe this is legislation which should be inacted. I understand the extra costs for these short sellers however I have seen what I believe are horrible inconsistencies in stock price movements based on what I am certain is nake short selling. I have worked with merrill lynch and morgan stanley for over 20 years and believe that what is happening in nake short selling is a travisty.