CMKM Diamonds Inc (fka CMKX)

[smpathy4dadevil]

Short Interest Reporting in Pink Sheets Securities Coming Soon!

New York, NY, November 7, 2005 -- On Thursday, November 4, 2005, the SEC published for comment a proposed rule change to amend NASD Rule 3360 to expand the short interest reporting requirements to over-the-counter (‘‘OTC’’) equity securities, including securities quoted on the Pink Sheets. The full text of the proposed rule change is available in the Federal Register or online at: http://www.smartpdf.com/register/2005/Nov/03/66875A.pdf.

In January 2005, Pink Sheets petitioned the SEC to cause the amendment of NASD Rule 3360 (http://sec.gov/rules/petitions/petn4-500.pdf). Under the current rule, NASD members are only required to maintain such records and make reports regarding securities included in listed on Nasdaq or on a national securities exchange. This excludes OTC equity securities, thereby denying investors and the markets for these instruments the protections of transparency and regulatory oversight provided by Rule 3360.

NASD will announce the effective date of the proposed rule change in a Notice to Members to be published no later than 60 days following Commission approval. In recognition of the technological and systems changes the proposed rule change may require, the effective date will be 90 days following publication of the Notice to Members announcing Commission approval.


http://www.pinksheets.com/about/pr_110705.jsp