Subject: File No. S7-08-09
From: James K Hicks

May 8, 2009

Removing the "Up Tick" rule and allowing stock to be sold without any requirement that the underlying stock be committed to the transaction has been very disastrous to the many stocks. Minimally these requirements should be restored and non-compliance should carry extreme penalties without legal recourse. Penalty payments should be paid directly affected stock market company, not the the investors. And thus would aid in restoring the true stock value.