Dear Sir/Madam:
I believe that the Short Sale Rule should be extended to Non-Exchange
Listed Securities
Securities traded in the OTC markets (e.g., Nasdaq Small Cap, the NASD's
OTCBB, the Pink Sheets) are presently not subject to short sale
restrictions. This frequently results in short sale abuses involving
securities.
I believe that the biggest threat to the OTC BB market order is the
outrageous stock price manipulation by some market makers and foreign brokerage firms.
Particularly, illegal shorting (creating shares to sell short) is the
biggest fraud ever seen in the stock market. When a company has
only about 10 million outstanding shares and some brokerage firms can
sell unlimited non-existent shares, market order cannot be established.
If the SEC is really serious about protecting the public from any frauds
and is willing fight against these big firms, the SEC should regulate
short sales in any stock markets as listed stocks. This will ensure
that everybody adheres to the same rules.
Sincerely,
Bob Staunton
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Bob
Staunton
Oak Ridge National Laboratory
Lockheed Martin Energy Research
E-Mail: anz@ornl.gov
(865) 574-3218, fax (865) 576-0493
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