Subject: File No. S7-12-06
From: Thad Lurie

January 15, 2007

Regulation SHO must be tightened, and the loopholes closed, to protect the sanctity of our financial markets.

The "Grandfather Clause", which is blatantly illegal, must be revoked retroactively, with all FTD short positions reconciled in a set time period. This must be enforced.

A concerned investor