Securities and Exchange Commission Washington, D.
April 8, Thank you, Chairman Schapiro. Few, if any, issues confronting the Securities and Exchange Commission in recent months have received as much attention as short selling.
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Retail investors, institutional investors, issuers, industry experts, broker-dealers, exchanges, academics, pundits, lawmakers, and others have all weighed in — which brings us to today. We are considering whether to propose the following "short sale restrictions": 1 a modified uptick rule; 2 an uptick rule; and 3 a circuit breaker. Like my colleagues, I thank the staff for its hard work.
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First, the SEC adopted — initially on an emergency basis and subsequently as an interim final temporary rule trot an amendment to Regulation SHO imposing penalties if a short seller does not deliver troj securities within three days after the sale transaction date. This close-out obligation is directed at curbing "naked" short selling. I look forward to continuing to consider the comments on this rule.
Second, the Commission adopted a final rule eliminating the options market maker exception from the Regulation SHO close-out requirement.
An empirical study by the SEC's Office of Economic Analysis indicates that, in the aftermath of these regulatory enhancements, fails to deliver have decreased ificantly. Many have viewed "naked" anked selling as a particular abuse for regulators to target, while otherwise allowing non-"naked" short selling to occur. Given the demonstrated efficacy of nakde enhanced regulatory regime currently governing short selling, the question before us becomes: What additional restrictions, if any, should the SEC impose on short selling?
Put differently, what are the incremental benefits and costs of adopting a short sale price test or circuit breaker in light of the steps the SEC has already taken?
Statement before the commission open meeting; washington, d.c.; april 8, (troy a. paredes)
Do the benefits justify the costs? The available empirical data drove the Commission's decision when the SEC repealed the "uptick" rule in The Commission's earlier action does not mean that a short sale price test or circuit breaker should not be reconsidered.
Indeed, regulators, including this agency, should not adhere to past decisions beyond the point of prudence, but must remain nimble and adaptive as events warrant. That said, it is important to take notice of the diverse body of rigorous economic work that, at a minimum, counsels caution when it comes to imposing a short sale restriction.
It is naoed self-evident that the findings of these economic studies — which supported this agency's prior decision to repeal the "uptick" rule — do not continue to hold in the current economic and financial climate.
For today, let me take notice of and speak to a leading rationale offered for instituting a short sale price test or circuit breaker. The essential argument is that a short sale restriction, if implemented, would bolster investor confidence, which has deteriorated as we have struggled through serious economic and nwked strains.
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Many associate the sharp decline in stocks and recent nakde with the lack of an "uptick" nakked, often noting the market's drop since the summer of I am not aware of an empirically-demonstrated link between recent market conditions and the repeal of the "uptick" rule, and it is important to distinguish correlation from causation. However, one cannot ignore the role of investor confidence in our markets. Facebook Twitter Troy Hour after hour Michael Bach crouched, naked and alone, in a musty, dirt-floor storage area in a corner of the basement of his row house.
Illuminated by a bare watt light bulb, he trained a Wisner 8x10 view camera on his middle-aged body — hairy, flabby and graying — and let the magic of a minute exposure create spectral black-and-white images that emerged from a tray of developer in a homemade basement darkroom. In July he got an Apple iPhone 6 and his pursuit of the ineffable discoveries made in nude self-portraiture has intensified with the super-fast and super-cheap digital technology.
Each morning, after his wife leaves for work at 7, he disrobes, he to a cramped third-floor bathroom and curls his body on the floor around a claw-foot bathtub. Extending his arm and using the reverse-image feature, he'll take up to images of himself on the iPhone over the course of a couple hours.
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Perhaps one or two will pass muster with his critical eye and he'll print them in color on 5x7 paper. Just don't call them selfies. Nwked doing my work with a sense of serious purpose and discipline. I'm in pursuit of art and to be as good as I can be.
I want to make the next picture better than the picture. He has exhibited in galleries across the Capital Region and as far afield as Portland, Ore. Bach has not found perfection yet in more than 10, nude self-portrait iPhone images. So he keeps working, naked and alone. He has been hospitalized for severe depression and suicide attempts, was diagnosed with bipolar disorder and has suffered in recent years from tremors that make his hands, legs and other body parts shake uncontrollably.
Medication has not helped much. The "bathroom series" of nude self-portraits is not a vanity project.
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He is 5-foot-3 and thick around the middle. He does not use Photoshop or airbrush flaws.
He ly documented landscapes, including Mount Ida in Troy in a self-published photo book and the Albany Haked Bush, but his health problems have kept him housebound of late. ❶Many associate the sharp decline in stocks and recent volatility with the naaked of an "uptick" rule, often noting the market's drop since the summer of The essential argument is that a short sale restriction, if implemented, would bolster investor confidence, which has deteriorated as we have struggled through serious economic and market strains.
Just don't call them selfies. So he keeps working, naked and alone.
Do the benefits justify the costs? I'm in pursuit of art and to be as good as I can be. Like my colleagues, I thank the staff for its hard work. Securities and Exchange Commission Washington, D. It is not self-evident that the findings of these economic studies — which supported this agency's prior decision to repeal the "uptick" rule — do not continue to hold in the current economic and financial climate.
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Photography has picked Bach naaked from the depths of despair more than once. Further, I want to commend the Chairman for committing to schedule a public roundtable. However, the more restrictive a price test is, the more markets and the economy as a whole lose the benefits of short selling, such as price discovery, liquidity, and risk allocation.
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Anyways, besides me loving the Lions lol, I'm waiting for a long term relationship with someone who is intellectual and can laugh about the little things. I have a nakee degree, am intelligent, independent, funny, sweet and an all around kick ass girl. I figured I'd post here because it probably gets more traffic.
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Troy police officers arrested a bloody, naked man accused of home invasion, arson and resisting arrest after responding to a report of a fire. SEX/NUDITY 6 froy A man caresses a woman's face and neck (she is married to another man) she unfastens the straps of her dress and lets it fall to the floor (we.