October 5, 2005
Subject: SEC File No. 4-500
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.
I am the CEO of Asia Properties, Inc. "ASPZ" that trades on the Pink Sheets. I am writing you to request that you protect my shareholders that are suffering as a result of naked shorting by brokers and market makers in our stock. This unregulated and illegal practice has gone on for far too long and has destroyed numerous OTC companies.
I would request that the SEC 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. The SEC's action is urgently needed to prevent fraudulent acts, expose market manipulation, promote fair principles of trade and protect investors.