Dear Friends,
Has anyone ever considered that they/we need to do something and anything to battle evil on our watch?
They say responding is a waste of time. If you agree, you are a supporter of this evil.
Write your comments on the joke, as presently written below called SHO and send them to all the people in today's article
DO SOMETHING MORE THAN JUST GRUMBLING ABOUT A WRONG!
Comment period for Reg SHO amendment extended
SEC Release No. 34-58107
The Securities and Exchange Commission issued Release No. 34-58107, Amendment to Regulation SHO, on July 7, 2008, to extend the comment period to August 13, 2008, for a proposed change to its short-selling rule. The proposed change to the July 2004 rule in Release No. 34-50103, Short Sales (Regulation SHO), is the latest attempt by the SEC to eliminate the persistent problem of fails to deliver of stocks that have been sold short. Fails result when a short seller can not close out a trade at the time of settlement, often because the seller never had title to the securities.
In the August 2007 final rule in Release No. 34-56212, the SEC got rid of one of two exceptions to Regulation SHO (17 CFR 242.200 et seq.), the grandfather provision. The proposal pending in Release No. 34-58107 would, if approved as a final rule, end the second loophole, the options market maker exception. Both provisions permitted short sellers to avoid closing out their positions under certain conditions.
A June 2008 study from the SEC's Office of Economic Analysis (OEA) said that fails to deliver on optionable securities increased sharply following the elimination of the grandfather provision. The data should permit interested parties to submit informed comments about the effect the options market maker exception has had on short selling, the agency said.
Release No. 34-58107 represents the third time regulators have opened up this particular amendment for public comment?the first two being the August 2007 proposal in Release No. 34-56213 and the July 2006 proposal in Release No. 34-54154.
Click here to view the full report in PDF format
sec.gov
ADDRESSES: Comments may be submitted by any of the following methods:
Electronic Comments:
Use the Commission?s Internet comment form(http://www.sec.gov/rules/proposed.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include File Number S7-19-07 on the subject line; or
Use the Federal eRulemaking Portal (http://www.regulations.gov). Follow the instructions for submitting comments.
Paper Comments:
Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090. All submissions should refer to File Number S7-19-07. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commissions Internet Web site (http://www.sec.gov/rules/proposed.shtml). Comments are also available for public inspection and copying in the Commissions Public Reference Room, 100 F Street, NE, Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. |
