SEC Delays Regulation SHO Amendment...

The Securities and Exchange Commission is re-opening the comment period on the “Amendments to Regulation SHO”.
Amendment to Regulation SHO

Purpose Of The Proposal...
"...to further reduce the number of persistent fails to deliver..."
"...to eliminate the options market maker exception to Regulation SHO’s close-out requirement..."

Commission staff obtained data on securities with extended fails to deliver from a National Securities Clearing Corporation (“NSCC”) participant...
A review of this data reveals that a high number of fails to deliver were not closed out as a result of the options market maker exception.
Let's Review...
Apparently, the SEC's own data shows that 'persistant, extended fails to deliver' would be reduced if they 'eliminate the options market maker exception'...!!

Submit Comments on File No. S7-19-07
Amendment to Regulation SHO

Comments on Amendments to Regulation SHO

My Comment Letter...
Subject: File No. S7-19-07
From: Tony Bo
Affiliation: Investor / Bagholder / Victim
July 8, 2008

To Whom It May Concern...

Excerpt from the UNITED STATES CONSTITUTION...

"To provide for the Punishment of counterfeiting the Securities and current Coin of the United States"

If the shares can NOT be delivered, COUNTERFEIT SHARES have effectively been created...

Settlement in 3 DAYS or REVERSE THE TRADE...

Why is that so hard to figure out...??

A Concerned Victim Of NAKED SHORT SELLING.

Justin Case
Subject: File No. S7-19-07
From: Justin C.
Affiliation: Victim Of Naked Shorting
July 9, 2008

RULE #1
You can't sell something you don't own.

I believe that's a pretty standard rule for the REST of the business world.
Maybe you should try that rule to stop Naked Short Selling...

Why is this SO HARD to figure out...??

If the shares can't be delivered in 3 days, the trade gets reversed.

If a company has 800 Billion Authorized shares, you can't allow brokers to sell TRILLIONS of shares.
(See CMKM Diamonds - CMKX)

ThankYaThankYaVeryMuch,
Justin C.

Damaged Shareholder
Subject: File No. S7-19-07
From: Damaged Shareholder
July 10, 2008

To Commissioner Nero...

SEC Delays Regulation SHO Amendment...
The Securities and Exchange Commission is re-opening the comment period on the Amendments to Regulation SHO.

Purpose Of The Proposal...
"...to further reduce the number of persistent fails to deliver..."
"...to eliminate the options market maker exception to Regulation SHOs close-out requirement..."

Commission staff obtained data on securities with extended fails to deliver from a National Securities Clearing Corporation (NSCC) participant...
A review of this data reveals that a high number of fails to deliver were not closed out as a result of the options market maker exception.

Let's Review...
Apparently, the SEC's own data shows that 'persistant, extended fails to deliver' would be reduced if they 'eliminate the options market maker exception'...

So why would you possibly delay implementing the elimination of the market maker exception, when your data proves it would do exactly what the proposal is trying to do, which is reduce the fails to deliver...??

Put down the fiddle, and put out this fire...

A Concerned, Damaged, Victimized Shareholder.