Mar. 14, 2025
Dear SEC, I hope this email finds you well. I am writing to express my support for the proposed changes to Reg SHO as outlined in the petition filed by We The Investors. I believe these amendments are crucial for addressing the significant issues present in the US short-selling landscape. The current rules governing short-selling are outdated and fraught with loopholes that allow for abuses and manipulation. I have observed how short-selling and the prevalence of fails to deliver (FTDs) distort supply and demand in our markets, impairing the essential price discovery process. This ongoing problem introduces systemic risk, which I believe we can no longer afford to tolerate. Moreover, past enforcement actions have highlighted the numerous ways in which these loopholes have been exploited, underscoring the urgent need for reform. Therefore, I fully support the amendments proposed in the petition, specifically: 1. Requiring all short sales to be backed by a confirmed borrow of securities prior to execution. 2. Imposing escalating monetary fees or fines for FTDs applicable to all market participants, with proceeds to support enforcement. 3. Eliminating all market maker exceptions to locate and close-out requirements, ensuring uniform settlement timelines. I appreciate the opportunity to provide my comments and urge the SEC to take swift action to implement these necessary changes. Thank you for considering my perspective. Sincerely, Mr. Terrell Adamson US Investors