Subject: File No. 4-627
From: Bobby Kochhar

July 15, 2011

As an individual investor, I strongly support full and complete disclosure of all short positions, including the transaction reporting regime, and the position reporting regime directly to the public.

This will increase transparency and trust in the American markets, and eliminate short selling abuses like naked shorting. Legitimate short sellers have an equally important place in the market as longs, and equal disclosure is appropriate and fair.