CMKM Diamonds Inc. (fka CMKX)

[IQ1]

Its no Wonder the Brokers don't want to Play Fair!
Yes the SEC does not have enough employees to keep up with so much crime. On July 28, the SEC adopted Regulation SHO under the Exchange Act to provide a framwork for the regulation of short sales in securities. The perceived need for Regulations SHO grew out of longstanding problems involving failures to deliver stock by the end of the standard 3-Day trade settlement period, some of which were symptoms of abusive naked short selling. To help avoid failed settlement, Regulation SHO includes a "locate" requirement: "A broker or dealer may not accept a short sale order in an equity security from another person or effect a short sale in an equity security for its own account, unless the broker or dealer has
1. borrowed the security or entered into a bonafide arrangement to borrow the security
2. reasonable grounds to believe that the security can be borrowed so that it can be delivered on the date delivered is due
3. documented complience with this requirement"