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Author Topic: Let's change the Pinks for good!! SEC File No. 4-500
Aquapurity
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This is an important letter from the Chairman & CEO of the Pink Sheets concerning naked shorting, and what we can do about it.
http://www.pinksheets.com/otcguide/issuers_shortsellingletter.jsp


Dear OTC Investor:


I am writing to alert you of a very important rule change that is needed to improve the OTC marketplace. I need your help to make regulators turn on the lights and protect investors from the menace of hidden short selling in the OTC market.

I think you'll agree that this issue deserves the small amount of your time it will take for you to tell the SEC what you think about this issue.

As Chairman & CEO of the Pink Sheets, I know perhaps better than anyone the importance of improving the Pink Sheets and OTCBB trading. And I know the devastating impact that small companies face when their market is tarnished by the threat of manipulation.

There is a crisis facing the OTC market today in the lack of short sale position reporting and disclosure for OTC issues. This lack of transparency regarding short selling in the OTC market allows fraudulent acts to go undiscovered and manipulative short sellers to hide.

I believe regulators should fix the problem. Small issuers traded on the Pink Sheets and the OTCBB deserve the same transparency and regulatory oversight of short selling as those listed on Exchanges or NASDAQ.

Therefore, Pink Sheets has petitioned 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 publicly 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 principles of trade and protect investors.

Our full rule change request is available for you to read at: http://sec.gov/rules/petitions/petn4-500.pdf and comments by other concerned OTC market participants are available at: http://sec.gov/rules/petitions/4-500.shtml

But I cannot make this important rule change happen without your help. Thus I'm asking you to write a letter today, and voice your support to the SEC for the Pink Sheets' Request for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination.

So please send your comments via Email to: rule-comments@sec.gov with a Cc: copy to: pubcom@nasd.com

Or, if it's more convenient, you can mail your comments to:

Jonathan G. Katz
Secretary, Securities Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

With a copy to:

Barbara Z. Sweeney
Senior Vice President and Corporate Secretary, NASD
1735 K Street, NW
Washington DC 20006-1500;

Either way, your Email or letter should refer to SEC File No. 4-500. Request for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination of Aggregate Positions by Security.

I know I'm asking you to do a lot. But it's important that we make the OTC market transparent and fairly regulated. I think you'll agree that this issue deserves the small amount of your time to tell the SEC what you think about this issue.

Remember, the only way to succeed in achieving this rule change is through the public outcry of investors demanding the SEC make this needed improvement to the OTC markets, and there is no substitute for your personal voice in this debate. This important rule change is not going to happen if you remain silent.

So please, don't rely on others to get the job done. Write your Emails or letters today. Together, we must win this battle and convince the SEC not to treat the OTC secondary markets for small companies as second class citizens.

Without this rule change investors and securities regulators will be blind to any short selling activity in Pink Sheets and OTCBB stocks. The SEC needs to know that the lack of short sale information in your securities is unacceptable and demand they change NASD Rule 3360 immediately.

I'm asking for your help to improve this critical part of the securities market, so that companies like yours will be traded in transparent, efficient and well regulated OTC markets. Please do your part by writing your Email or letter today. Every voice counts in the debate, and yours could be the one that puts us over the top.

Thank you for your time and help in this fight.

Sincerely,

R. Cromwell Coulson
Chairman & CEO


P.S. We can only succeed in making these rule changes with your help. So please, take action today. And once again, thank you very much for your help.

Note: To comment to the SEC via Internet, use rule-comments@sec.gov with a Cc: copy to: pubcom@nasd.com

File No. 4-500. Request for rulemaking regarding member records of "short" positions and reporting and public dissemination of aggregate positions by security.

SEC Public Petition page: http://sec.gov/rules/petitions.shtml

Pink Sheets request is available at: http://sec.gov/rules/petitions/petn4-500.pdf

Comments by other concerned OTC market participants are available at: http://sec.gov/rules/petitions/4-500.shtml

Posts: 237 | From: Boulder, CO | Registered: Jun 2005  |  IP: Logged | Report this post to a Moderator
Aquapurity
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[Sample letter/email 1]
Dear S.E.C.

I am wrinting this letter of support for SEC File No. 4-500. Request for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination of Aggregate Positions by Security.

Without this rule change investors and securities regulators are blind to any short selling activity in Pink Sheets and OTCBB stocks. I would like for you to know that the lack of short sale information in these securities is unacceptable and I am requesting that you change NASD Rule 3360 immediately.

Sincerely,

*************

Email to: rule-comments@sec.gov with a Cc: copy to: pubcom@nasd.com
OR
Mail to:
Jonathan G. Katz
Secretary, Securities Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

With a copy to:

Barbara Z. Sweeney
Senior Vice President and Corporate Secretary, NASD
1735 K Street, NW
Washington DC 20006-1500

[ September 23, 2005, 19:37: Message edited by: Aquapurity ]

Posts: 237 | From: Boulder, CO | Registered: Jun 2005  |  IP: Logged | Report this post to a Moderator
Aquapurity
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[Sample letter/email 2]
Dear Mr. Katz -

I am writing regarding SEC File No. 4-500. Request for rulemaking regarding member records of "short" positions and reporting and public dissemination of aggregate positions by security.

Small issuers traded on the Pink sheets and the OTCBB deserve the same transparency and regulatory oversight of short selling as those listed on Exchanges or NASDAQ.

Please amend 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 positions by security.

The SEC's action is urgently needed to prevent fraudulent acts, expose market manipulation, and promote fair principles of trade and protect investors.

Thank you for your consideration,

Sincerely,

*************

Email to: rule-comments@sec.gov with a Cc: copy to: pubcom@nasd.com
OR
Mail to:
Jonathan G. Katz
Secretary, Securities Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

With a copy to:

Barbara Z. Sweeney
Senior Vice President and Corporate Secretary, NASD
1735 K Street, NW
Washington DC 20006-1500

[ September 23, 2005, 19:36: Message edited by: Aquapurity ]

Posts: 237 | From: Boulder, CO | Registered: Jun 2005  |  IP: Logged | Report this post to a Moderator
Aquapurity
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Come on people! None of you care about this?? Give me a break. How many of you complain about naked shorting?

Send your emails and post that you did so here.

Posts: 237 | From: Boulder, CO | Registered: Jun 2005  |  IP: Logged | Report this post to a Moderator
Monopoly Money
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its saturday night everyone is out.. keep it bumped until monday am then you will get response... i shall send my email monday am... just busy right now

--------------------
M.M.
Semester #3 started,Only 7 more semesters to go.
Why, in an age where information is so easy to get, cant we find information on one man.
Experience is something you dont get until just after you need it.

Posts: 1002 | From: Southaven, Mississippi, US | Registered: Nov 2004  |  IP: Logged | Report this post to a Moderator
Aquapurity
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Sounds good Money
Posts: 237 | From: Boulder, CO | Registered: Jun 2005  |  IP: Logged | Report this post to a Moderator
Monopoly Money
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just remind me .. i have such a large schedual i forget things:)

--------------------
M.M.
Semester #3 started,Only 7 more semesters to go.
Why, in an age where information is so easy to get, cant we find information on one man.
Experience is something you dont get until just after you need it.

Posts: 1002 | From: Southaven, Mississippi, US | Registered: Nov 2004  |  IP: Logged | Report this post to a Moderator
jakeo
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hell yeah ill sign my name- make an online petition and post it on monday

--------------------
Wide diversification is only required when investors do not understand what they are doing W.Buffet

Posts: 565 | From: War Eagle | Registered: Jun 2005  |  IP: Logged | Report this post to a Moderator
databig
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i posted this at a few driffrent sites also awhile back , and alot of people followed tru on it, also use this link to write your Senator and State Attorney General. very easy to use right hand side towards the bottom, all the states are listed,,,,,,,,

http://americaneedstoknow.com/

Posts: 535 | From: muskegon, michigan | Registered: Jul 2005  |  IP: Logged | Report this post to a Moderator
explorer186
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I'm all for it guys. Unhindered shorting has become a progressive disease of the penny markets. We need to treat it ASAP.
Posts: 1468 | Registered: Jul 2005  |  IP: Logged | Report this post to a Moderator
databig
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if we keep putting the pressure on the Senators and whoever we can , maybe we can stop this ,, its stealing,, how can they sell what they dont own....its bullsh*t..
Posts: 535 | From: muskegon, michigan | Registered: Jul 2005  |  IP: Logged | Report this post to a Moderator
OneGreater
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I've just sent my email off. Hope it helps.
Posts: 38 | From: Washington, DC | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
Machiavelli
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Keep dreaming.. the reality of it is that the politicians will never do anything that won't benefit them.. traders and investors of penny stocks are very miniscule compared to mainstream stocks.. you hear about Spitzer etc.. in NY making headlines on Wall Street but that is for maintstream stocks.. if that dude doesn't go after the penny stock market no one will... because it won't further his political ambitions much less the current Senators/Representatives...

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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T e x
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true

any change will come from a concerted effort convince someone like Spitz of the benefit to clean up the whole game...

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged | Report this post to a Moderator
   

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