September 17, 2008
THERE IS NO EXCUSE FOR YOUR FAILURE TO ENFORCE ALL EXISTING SHORT SELLING RULES.YOUR AGENCY IS RESPONSIBLE FOR ESTABLISHING THESE RULES AND YOU MUST ENFORCE ALL RULES AT ALL TIMES OR CHANGE THE RULE. SAFEGUARDS ARE CURRENTLY INADEQUATE AND THE NEED EXISTS TO REINSTATE THE UP TICK RULE, ADD PENALTIES TO CURB RUMOURS, AND ELIMINATE MARGIN ON SHORT SALES. PROTECTION OF THE SMALL INVESTORS IS MORE IMPORTANT THAN ENABLING GREEDY DISHONEST TRADERS, INCREASING THE VOLUME OF TRADING ACTIVITIES AND PROFIT OF THE INVESTMENT BROAKERS.
THANK YOU