From: Dino A. Sawyer |
To Whom It May Concern: RE: SEC File No. 4-500. Request for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination of Aggregate Positions by Security. The level manipulation of stock prices for OTC/Pink Sheet securities due to illegal short selling is extremely damaging to both investors and legitimate micro-cap companies. 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. Favorable action needs to be taken regarding the request for rulemaking to amend 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. Thank you for your cooperation in this matter. Sincerely, Dino A. Sawyer |