July 9, 2008
Dear Chairman Cox,
Ms. Nancy M. Morris, Secretary
Florence E. Harmon Acting Secretary
Securities and Exchange Commission
100 F. Street, NE
Washington, DC 20549-1090
Re: Comments on Proposed Amendments to Regulation SHO
File No S7-19-07
I appreciate the opportunity to provide comments on the Commissions proposed amendments to Regulation SHO.
I support the Commissions proposed elimination of Regulation SHOs options market maker exception and encourage the Commission to complete the administrative steps to accomplish this change as quickly as possible (e.g., by years end). The options market maker exception has been a well known tool of manipulation and must be eliminated promptly to ensure a level playing field for public companies and shareholders
I am an indiviual with interest to invest in the us market.I am already a shareholder of a couple of companies in the us market.With the naked shorting problem of the stocks that you are aware of it how you want asure the public investors that you have a fair market in the America.You as a requlator have this duty to protect the public interests not criminals interest.
Why when people from foreign countries after buying stocks in us market are not able to get a certificate for it.How you asking the world that you have the best system there and want them to invest in the America and why we should trust you and how you proving that you looking for the
interest of the public not criminals.
You are letting them to short the stocks but you don't care about the rights and requlations or the integrity of your markets.
I commend the Commissions recent action to strengthen Regulation SHO through the elimination of Regulation SHOs grandfather provision. I am also pleased that over the past several months that Chairman Cox has personally spoken about the abuses of naked short selling and the need to end this manipulative practice. However, I remain concerned that, despite the Commissions recent efforts and Chairman Coxs public comments, these abuses continue.
You need to close the market makers loophole/exception. Naked shorting is fraud, pure and simple. Do your job and restore integrity and confidence to the your financial equity markets.