October 28, 2005
I strongly support Pink Sheets petition to 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 publically 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 principals of trade, and protect investors.
How can anyone have any confidence in our securities markets if this lack of transparency regarding short selling in the OTC market allows frauulent acts to go undiscovered and manipulative short sellers to hide? This amendment must be approved.