Cal-Bay International Inc (CBYI)

[Phisherman]

You should follow your own advice regarding misleading folks. Don't open this can of worms with me, you will lose...

Amendments to Regulation SHO

AGENCY: Securities and Exchange Commission.
ACTION: Final rule.
DATES: Effective Date: October 15, 2007.

SUMMARY: The Securities and Exchange Commission (``Commission') is
adopting amendments to Regulation SHO under the Securities Exchange Act
of 1934 (``Exchange Act'). The amendments are intended to further
reduce the number of persistent fails to deliver in certain equity
securities by eliminating the grandfather provision of Regulation SHO.
In addition, we are amending the close-out requirement of Regulation SHO
for certain securities that a seller is ``deemed to own.' The
amendments also update the market decline limitation referenced in
Regulation SHO.