Subject: File No. S7-12-06
From: Corey E Jones
Affiliation: Small Business Owner

April 4, 2007

-I am completely amazed that you still haven't eliminated the grandfather clause from Regulation SHO. It is so blatantly obvious that the SEC does not protest the individual investor, but to the contrary actually changes the rules of the game to favor the hedge funds and market makers. If your intentions are to protect the market let me remind you that I am one investor who pays attention, who no longer has any faith in our market system. My faith will continue to be shaky as long as you continue to allow the billions of counterfit shares(NSS FTD) to exist.