From: Rocco D. Serrecchia Jr.
Sent: May 23, 2005
Subject: File No. 4-500

Dear Mr. Jonathan G. Katz & Ms. Barbara Z. Sweeney,

I've recently read a letter from R. Cromwell Coulson, Chairma & CEO of Pink Sheets. In this letter he states that he has petitioned the SEC to cause the amendment of NASD Rule 3360 noting File No. 4-500. Request for rulemaking regarding member records of "short" positions and reporting and public dissemination of aggregate positions by security. I wholly agree that the market place has many problems that need addressing, this being one of the larger. Regulation SHO was step one in the right direction. Although with the limited information available to the public and enforcement of that rule, additional changes need to be made to stop fraudulent and market manipulation. The epidemic commonly know as "StockGate" has been receiving a lot of attention not only from the trading community but also has spilled over to the media. Senators too have turned their attention to this problem.

This petition by Mr. R. Cromwell Coulson needs to be implemented and strongly enforced in a timely manor in order to increase the stability of a fair market place and restore some faith in not only the securities market but also the US Government.

Thank you for your time.

Rocco D. Serrecchia Jr.
Carmel, NY