From: Robert A. Duff
Sent: July 22, 2005
To: rule-comments@sec.gov
Subject: File No. 4-500


RE: SEC File No. 4-500

Dear Mr. Katz,

As stated in a letter from the Pinksheets CEO, R. Cromwell Coulson, dated January 3rd, 2005, I ".....respectfully petition the Securities and Exchange Commission (the "Commission") to mandate an amendment to Rule 3360 of the Rules of Fair Practice of the National Association of Securities Dealers, inc. (the "NASD") that would require NASD members to maintain a record of total "short" positions in all customer and proprietary firm accounts in all publicly traded equity securities and report this information to the NASD for public dissemination of the aggregate positions by security. Under the current rule, NASD members are only required to maintain such records and make reports regarding securities included in The NASDAQ Stock Market or listed on a national securities exchange. The rule excludes OTC equity securities, thereby denying investors and the markets for these instruments the protections of transparency and regulatory oversight provided by Rule 3360. The Commission's action is urgently needed to prevent fraudulent and manipulative acts and practices, promote just and equitable principles of trade, and protect investors and the public interest. The NASD should also make such information publicly available in the equivalent way NASDAQ short interest volume is currently provided to the public."

I would like to voice my support of the recommendations provided by Mr. Coulson by "...urging the Commission to require the NASD to take immediate action to extend short interest reporting to ALL publicly traded equity securities."

Respectfully submitted,

Robert A. Duff
OTC Investor