Tuesday, February 28, 2006


SEC Announces Approval of Short Position Reporting in Pink Sheet Stocks

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Pink Sheets LLC
304 Hudson Street, 2nd Floor
New York, NY 10013


SEC Announces Approval of Short Position Reporting in Pink Sheet Stocks

New York, NY, February 16, 2006 -- On February 10, 2006 the US Securities and Exchange Commission published its order approving changes to NASD Rule 3360 in the Federal Register, Volume 71, No. 28. This change will expand short interest reporting requirements to over-the-counter equity securities, including those quoted on Pink Sheets. Currently, NASD rules require monthly short interest reporting only in securities listed on Nasdaq.

The Commission believes that expanding short interest reporting to OTC equity securities will protect investors and the public interest by requiring NASD members to increase the information available to investors and other interested parties related to trading in OTC equity securities.

The 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 the proposed rule change, the NASD stated that in recognition of the technological and systems changes the proposed rule change may require, the effective date for the proposed rule change will be 90 days following publication of the NASD’s Notice to Members announcing Commission approval.

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