July 17, 2008
It is a shame the Commission has continued to fail to simply enforce the existing regulations against NAKED SHORT SELLING, a practice harmful not only to individual investors, but to our economy as well.
I support elimination of the Market Makers exemption.
I support amendment to rule 203(b)(3)(iii) of Regulation SHO - completely eliminating the close out exemption for option market makers as proposed (not alternative 1 or 2) .
I support amendment to rule 200(g)(1)which will require a "locate" on short sales securities and proper marking of sales as "long" or "short".
I also support amendment to rule 200(g)(1) proposed in the second round in release 34-56213 File No. S7-19-07 because equity investors are being harmed from mismarked sales as "long" when they are NAKED short which counterfeits shares--an illegal activity
Come on guys, lets get the job done, and start immediately enforcing the rules, regulations and laws CURRENTLY on the books.