Subject: File No. S7-08-07
From: Gene L. Finn

July 18, 2012

Mary L Shapiro, Chairman
Securities and Exchange Commission
100 F Street NE
Washington, DC 20549    RE: S7-08-07
July 18, 2012

Dear Chairman Shapiro

At the time of my June 25, 2012, letter, requesting a review of T+3 settlement for cash account investors, I was unaware of SEC release 34-66853 that announced SEC approval of an SRO rule that applies T+1 to certain sophisticated derivative trades. I would like to incorporate that Release by reference into my comments.

That approval was justified by The Commission on exactly the same transactions' risk rationale that I used in my letter seeking a T+1 requirement for individual investor transactions.

Clearly, cash account individual investors, with the same executing, clearing and custodial broker also acting as principal in their transactions, deserve the same level of protection and mechanical market efficiency as sophisticated margin customers engaged in sophisticated derivative trading activities.

The Commission can reduce individual investor transactions' risk and increase transactions' efficiency for small investors by changing T+3 to T+1.

Alternatively, under the customer financial protection rules (i.e. 15C3-3) The Commission could require the everyday prompt sweep of customers' funds from the broker controlled customers' cash accounts to customers' sweep accounts without the artificial delay imposed by brokers under the SEC T+3 mandate.

Respectfully yours,

Gene L. Finn