October 13, 2008
Sirs; Why are registered investment companies excluded from these proposed changes to management and reporting procedures? This exclusion gives the glaring appearance that the SEC is protecting its friends on Wall Street and not the investors on Main Street. What are you doing about enforcing the existing naked short rules which, if not enforced, make all these proposed changes moot? Naked shorting will continue to destroy new and existing companies, their products and personnel unless and until the SEC starts doing its job of enforcing rules already 'on its books'. Does the SEC intend to continue instituting new rules that matter not if no enforcement of naked short rules is forthcoming? This new addition appears to be an attempt at appeasing the investing public with 'red herring' activity, not real remedial action.