June 24, 2009
Where do we stand on the issue of RULE CHANGES that are under review for the purpose of controlling NAKED SHORT SELLING, an UPTICK RULE with some bite and especially where the shares are NEVER delivered.
I sent in a comment about two months ago and never had any kind of reply -- no acknowledgment of receipt or anything. Has this issue been set aside in hopes that it will be forgotten and brokers/traders can continue with their current methods to drive down a particular stock ---- and not be required to produce/deliver the stock by just simply issuing a FAILURE TO DELIVER notice, that the SEC hold/knows is out there but never enforces the need to make the transaction whole?
thanks for your time,
M. S. Boerio