YOU ALL HAVE TO READ THIS:
SEC Approves NASD Request Requiring 5,600 Brokerage Firms To Disclose Monthly Total Short Interest For OTCBB and PINKSHEET Securities.
February 8, 2006 /M2 PRESSWIRE/ BUYINS.NET, www.buyins.net
announced today that The SEC News Digest reported approval of the NASD's request to require all NASD member firms to disclose Total Short Interest positions on OTCBB and PINKSHEET securities. The following statement was published in the February 7, 2006 edition:
"The Commission approved a proposed rule change submitted by the National Association of Securities Dealers (SR-NASD-
2005-112) regarding amendments to Rule 3360 to expand short interest reporting to OTC equity securities. Publication of the order is expected in the Federal Register during the week of February 6. (Rel. 34-53224)"
On September 20, 2005 the NASD filed with the Securities and Exchange Commission ("SEC") a proposed rule change to amend Rule 3360 to expand short interest reporting requirements to over-the-counter equity securities. The term "OTC Equity Securities" shall mean any equity security that is not listed on The NASDAQ Stock
Market or a national securities exchange. Each member firm shall maintain a record of total "short" positions in all customer and proprietary firm accounts and shall regularly report such information to NASD as of the close of the settlement date designated by NASD. Reports shall be received by NASD no later than the second business day after the reporting settlement date. The term "customer" also includes accounts of other broker-dealers held
at each firm.
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