From: Rob Alexander |
There is a crisis facing the OTC market today in the lack of short sale position reporting and disclosure for OTC issues. This lack of transparency regarding short selling in the OTC market allows fraudulent acts to go undiscovered and manipulative short sellers to hide. I believe regulators should fix the problem. Small issuers traded on the Pink Sheets and the OTCBB deserve the same transparency and regulatory oversight of short selling as those listed on Exchanges or NASDAQ. And the SHO is a disgrace!!! I am hereby petitioned the SEC to cause the amendment of NASD Rule 3360 and require NASD broker dealers to maintain a record of total "short" positions in all customer and proprietary firm accounts in all publicly traded equity securities as well as report this information to the NASD for public dissemination of the short positions by security. Your action is urgently needed to prevent fraudulent acts, expose market manipulation, promote fair principles of trade and protect investors. for every trade i make i pay to u the SEC a regulatory fee on the total amount of money i get from the sale, even though i shouldn't pay for the portion i bought just on the profit side but i'm /others deserve the same treatment of my investments the same as it is done to those trading the nyse,amex and nasdaq large cap and it is not fair to me nor other investors to see the stocks i buy being blatently manipulated by market makers!!! this has to stop!!!! So amend NASD Rule 3360 to include the otccbb and pinksheets since they are quoted on level 2 which should be made a regulated stock exchange Without us micro traders ur coffers of trillion dollars a year would not be that much!!! Maybe a trading boycot by the public will make you see the light!!! |