From: Joseph A. Underwood
Sent: July 17, 2005
Subject: File No. S7-12-06

1. FED's that get a company listed on regulation sho are not an accident or mistake. They have been used to manipulate the value of the companies stock.

2. Locate requirements need to be strict and verifiable.

3. Elimate market makers ability to FTD.

4. Protect investors by eliminating FTD's.

Joseph A Underwood
3764 Manhattan Court
Gulf Breeze, Florida 32563