September 17, 2005
Dear SEC:
It is time to address the issue of shortselling on OTC BB and Pinksheet stocks. As per the statements made by Mr. Jonathan G. Katz, Chairman and CEO of the Pinksheet Boards, I urge you to consider this request as an urgent matter.
Individual investors such as myself are being unfairly cheated and taken advantage of. This small market is where many startups go to survive the listing requirements of the larger exchanges. where they ultimately fall prey to naked shortsellers.
Please assist us in this fight against an illegal activity that occurs daily without any regard for the law.
Thank you for your time.
Sincerely,
Joe Chung
"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."