April 23, 2008
The management team at FSI International supports the SEC position with respect to the "naked" short selling of securities. We concur that a seller should be required to deliver the shares sold withing 48 hours of the sale. If the seller is not able to deliver the shares then a fine should be assessed by the SEC for violation of the rule. If an individual or institution is fined on more than one occassion the sellers license to trade securities should be suspended for 30 days and if viloations recur the securites license should be terminated. If there is a rule then it is only appropriate to have consequences should a rule violation occur.