Subject: File No. 4-500
From: John Q. Shaw, President and CEO
Affiliation: New Century Bancorp Inc.
May 27, 2005
We at New Century Bancorp fully support Pink Sheets petition that the SEC 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 position by security.
For a thinly traded community bank stock that needs to trade economically on the Pink Sheet we have the same need to feel that we are protected from fraudulent acts, expose market manipulation, promote fair principles of trade and protect our investors.
Thank you for your consideration in this matter.
John Q. Shaw
President and CEO
New Century Bancorp Inc.