![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Sunday, May 21, 2006 11:18:54 AM
Paivis on Friday was Naked Short Selling
Read below and decide for yourself, the SEC has to stop fims such as Ameritade from Illegal Naked Shorting. Where was DTCC?
I put together these different Governing Agencies and their Rolls. Here is the Question we need answered about what happened with Paivis on Friday’s Trading of 645,915,747 shares when the average volume is 29,948,121 shares a day.
These Shares traded were Restricted as per 8K and previous PR from management stateing the Shares are Restricted.
Where did all of these Shares come from that Ameritade put on the Open market. The DTCC never issued the Restricted Shares, the Transfer Agent never received the restricted Shares, but Ameritrade has the Restricted Shares and puts them on the Open Market.
IMO what Ameritrade did on Friday is the most Classic Case Of Naked Short Selling I have ever seen. At the end you will find Parts 1 thru 4 explaining how NSS is done.
SEC
A government commission created by Congress to regulate the securities markets and protect investors. In addition to regulation and protection, it also monitors the corporate takeovers in the U.S. The SEC is composed of five commissioners appointed by the U.S. President and approved by the Senate. The statutes administered by the SEC are designed to promote full public disclosure and to protect the investing public against fraudulent and manipulative practices in the securities markets. Generally, most issues of securities offered in interstate commerce, through the mail or on the internet, must be registered with the SEC. Here's an example of an activity that falls within the SEC's domain: if someone purchases more than 5% of a company's equity, they must report to the SEC within 10 days of the purchase because of the takeover threats it may cause.
DTCC
Established in 1999, the DTCC is a holding company consisting of 5 clearing corporations and 1 depository, making it the world's largest financial services corporation dealing in post trade transactions. Owned by its principal users, the DTCC's function is to integrate the NSCC and DTC, streamlining clearing and depository transactions in attempts to reduce cost and increase capital efficiency.
http://www.dtcc.com/
NASD
A self-regulatory organization of the securities industry responsible for the operation and regulation of the Nasdaq stock market and over-the-counter markets. It also administrates exams for investment professionals, such as the Series 7 exam. The NASD watches over the Nasdaq to make sure the market operates correctly.
http://www.investopedia.com/terms/n/nasd.asp
Transfer Agent
A trust company, bank or similar financial institution assigned by a corporation to maintain records of investors and account balances and transactions, to cancel and issue certificates, to process investor mailings and to deal with any associated problems (i.e. lost or stolen certificates). Because publicly-traded companies, mutual funds and similar entities often have many investors who own a small portion of the organization, require accurate records and have rights regarding information provision, the role of the transfer agent is an important one. Some corporations choose to act as their own transfer agents, but most choose a third-party financial institution to fill the role.
http://www.investopedia.com/terms/t/transferagent.asp
Brokerage Functions, Underwriting and Agency Roles
The Primary Market
Perhaps the most lucrative aspect of the securities business at present is the selling of new securities issues to large institutional and retail investors. The sale of new issues in this manner constitutes what is known as the primary market
http://www.investopedia.com/articles/basics/04/042304.asp
Rule 144 Restricted and unregistered Stock
A Securities and Exchange Commission rule that sets the conditions under which restricted, unregistered and control securities can be sold. These are the five conditions that must be met for these securities to be sold:
1. The prescribed holding period must be met.
2. There is an 'adequate' amount of current information available to the public regarding the historical performance of the security.
3. The amount to be sold is less than 1% of the shares outstanding and accounts for less than 1% of the average of the previous four weeks' trading volume.
4. All of the normal trading conditions that apply to any trade have been met.
5. If wishing to sell more than 500 shares or an amount worth more than $10,000, the seller must file a form with the SEC before the sale. Brokers may sell restricted, unregistered and control securities, but on an 'agency' basis only. They may sell them, but can't solicit a buy order. If the seller is not associated with the company that issued the shares and has owned the securities for more than two years, the seller does not need to meet any of the five conditions and can sell the securities as they would any other.
Nakes Short Selling How it works
http://www.americanmicrocaps.com/featuredcolumn2.htm
This is a GREAT presentation on how stocks are shorted and how MM can get in trouble. it is long but i find it VERY useful!
Part 1
http://www.businessjive.com/nss/darkside.html
part 2
http://www.businessjive.com/nss2/darkside2.html
part 3
http://www.businessjive.com/nss3/darkside3.html
part 4 l
http://www.businessjive.com/nss4/darkside4.html
SEC Approves Amendments to the Short Interest Reporting Requirements; Effective Date: July 3, 2006
http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&ssDocName=NASDW_016329&ssSourceNodeId=...
Read below and decide for yourself, the SEC has to stop fims such as Ameritade from Illegal Naked Shorting. Where was DTCC?
I put together these different Governing Agencies and their Rolls. Here is the Question we need answered about what happened with Paivis on Friday’s Trading of 645,915,747 shares when the average volume is 29,948,121 shares a day.
These Shares traded were Restricted as per 8K and previous PR from management stateing the Shares are Restricted.
Where did all of these Shares come from that Ameritade put on the Open market. The DTCC never issued the Restricted Shares, the Transfer Agent never received the restricted Shares, but Ameritrade has the Restricted Shares and puts them on the Open Market.
IMO what Ameritrade did on Friday is the most Classic Case Of Naked Short Selling I have ever seen. At the end you will find Parts 1 thru 4 explaining how NSS is done.
SEC
A government commission created by Congress to regulate the securities markets and protect investors. In addition to regulation and protection, it also monitors the corporate takeovers in the U.S. The SEC is composed of five commissioners appointed by the U.S. President and approved by the Senate. The statutes administered by the SEC are designed to promote full public disclosure and to protect the investing public against fraudulent and manipulative practices in the securities markets. Generally, most issues of securities offered in interstate commerce, through the mail or on the internet, must be registered with the SEC. Here's an example of an activity that falls within the SEC's domain: if someone purchases more than 5% of a company's equity, they must report to the SEC within 10 days of the purchase because of the takeover threats it may cause.
DTCC
Established in 1999, the DTCC is a holding company consisting of 5 clearing corporations and 1 depository, making it the world's largest financial services corporation dealing in post trade transactions. Owned by its principal users, the DTCC's function is to integrate the NSCC and DTC, streamlining clearing and depository transactions in attempts to reduce cost and increase capital efficiency.
http://www.dtcc.com/
NASD
A self-regulatory organization of the securities industry responsible for the operation and regulation of the Nasdaq stock market and over-the-counter markets. It also administrates exams for investment professionals, such as the Series 7 exam. The NASD watches over the Nasdaq to make sure the market operates correctly.
http://www.investopedia.com/terms/n/nasd.asp
Transfer Agent
A trust company, bank or similar financial institution assigned by a corporation to maintain records of investors and account balances and transactions, to cancel and issue certificates, to process investor mailings and to deal with any associated problems (i.e. lost or stolen certificates). Because publicly-traded companies, mutual funds and similar entities often have many investors who own a small portion of the organization, require accurate records and have rights regarding information provision, the role of the transfer agent is an important one. Some corporations choose to act as their own transfer agents, but most choose a third-party financial institution to fill the role.
http://www.investopedia.com/terms/t/transferagent.asp
Brokerage Functions, Underwriting and Agency Roles
The Primary Market
Perhaps the most lucrative aspect of the securities business at present is the selling of new securities issues to large institutional and retail investors. The sale of new issues in this manner constitutes what is known as the primary market
http://www.investopedia.com/articles/basics/04/042304.asp
Rule 144 Restricted and unregistered Stock
A Securities and Exchange Commission rule that sets the conditions under which restricted, unregistered and control securities can be sold. These are the five conditions that must be met for these securities to be sold:
1. The prescribed holding period must be met.
2. There is an 'adequate' amount of current information available to the public regarding the historical performance of the security.
3. The amount to be sold is less than 1% of the shares outstanding and accounts for less than 1% of the average of the previous four weeks' trading volume.
4. All of the normal trading conditions that apply to any trade have been met.
5. If wishing to sell more than 500 shares or an amount worth more than $10,000, the seller must file a form with the SEC before the sale. Brokers may sell restricted, unregistered and control securities, but on an 'agency' basis only. They may sell them, but can't solicit a buy order. If the seller is not associated with the company that issued the shares and has owned the securities for more than two years, the seller does not need to meet any of the five conditions and can sell the securities as they would any other.
Nakes Short Selling How it works
http://www.americanmicrocaps.com/featuredcolumn2.htm
This is a GREAT presentation on how stocks are shorted and how MM can get in trouble. it is long but i find it VERY useful!
Part 1
http://www.businessjive.com/nss/darkside.html
part 2
http://www.businessjive.com/nss2/darkside2.html
part 3
http://www.businessjive.com/nss3/darkside3.html
part 4 l
http://www.businessjive.com/nss4/darkside4.html
SEC Approves Amendments to the Short Interest Reporting Requirements; Effective Date: July 3, 2006
http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE&ssDocName=NASDW_016329&ssSourceNodeId=...
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.