Subject: File No. 4-500
From: Steve Higgins
May 4, 2005
Will you please tell me why the OTCBB aren't given the same Transparency and Regulatory oversite of short selling as the Exchanges and NASDAQ ? I have about $100,000 of my hard earned dollars invested in a company Fidelis Energy FDEI.OB and I am in at what I thought was a very good position. The last several months even thougt Fidelis has taken some strides forward for long term growth I am down $30,000 secondary to the last few months of short selling. I should be at least $50,000 ahead with the recent progress of the company. It is hard enough to invest in the market when all is above board but impossible to have faith when short seller can manipulate the price of the stock and on the OTCBB and do it undetected. I have faith with my investment in Fidelis for the long term but I still don't know why the short selling on the OTCBB sector is allowed to go on unreported. There is a great need for the amme ndment of RULE 3360.
SEC file no 4-500 request for rulemaking regarding members record or short positions and reporting and public dissemination of aggregate positions of securities. Let's fix what is wrong NOW and make it a better place for all.