Subject: File No. S7-08-09
From: Stefano Z
Affiliation: Student

August 27, 2009

To SEC Chairman Mary Schapiro,

I am writing about SEC's proposal "Amendments to Regulation SHO" only for give a small advice, since I'm completely agree with restrictions on short selling properly now when the markets have reached relatively high levels.
In order to avoid acceleration in declining market, the restriction might be implemented by another addendum that forbid the selling also in the derivatives market, leaving this possibility only at the market maker or giant banks like Goldman Sachs, that provides liquidity and efficiency.
Furthermore all the decisions and new rules should be actuated at the same time in all the over countries, in agreement with the respectively commissions, increasing in this way the efficacy... and as soon as possible in September