Bancorp International Group Inc (fka BCIT)

[multicellp450]

That Oklahoma bill SB-979 wow:

Tom has to be one he11 of a chess player.

This part I be likin:

The bill also lists the rights of purchasers of stock who don’t receive delivery to pursue legal action against broker-dealers to recover money lost because of failures to deliver, as well as interest, attorney’s fees, and damages. It is expected that this bill will now be used as a model by other states that are interested in protecting their own citizens’ rights to buy and sale stock with the assurance that what they are paying for is actually delivered, and in assuring that companies that decide to raise money in the stock market won’t become victims to stock manipulation and fraud.

While the NASAA doesn’t comment on individual state efforts concerning stock market reform, General Counsel Rex Staples did say that the “NASAA’s position is the same that we’ve held all along as an organization. We will continue to push for resolutions to the problems that we see with naked short selling. At the same time, I’m taking SEC Chairman Cox at his word that he’s going to do something about the issue on a federal level.”

While it’s almost a certainty that attorneys for the securities industry will challenge the new law, as they did in Utah, advocates feel certain that the Oklahoma legislation is written to comply with federal guidelines.


We have posted the final version of Oklahoma State Bill 979 in its entirety at:
http://www.faulkingtruth.com/Articles/-EditorsCorner/1057.html