CMKM Diamonds Inc. (fka CMKX)

[Ignutz]

What more do we need to know about SEC rule 15c3-3 …

… and for the SEC's failure to enforce it – what’s in store for October? ... another illusion? .. another sham?

18-OCT-2004 New York USD $1250
NY Institute of Finance
9:00am - 4:30pm Mon

SEC rule 15c3-3 addresses:

- Buy-in of short security differences
- Delivery of securities
- Completion of sell orders

http://www.ftknowledge.com/courses/brochures/aatx_2006.pdf


Investors must become educated as to the nature of “naked short selling” and demand the registration and home delivery of their shares … it’s the key to ending this fraudulent practice until the Stockgate mess is cleaned up.

Existing SEC Customer Protection Rule 15c3-3, when enforced, provides customer protection by preventing broker-dealers from using customers' securities and other assets to finance firms' proprietary activities. Why is it not being enforced … is it too lucrative? Investors must demand their share certificates to force the SEC to enforce their own rule.

The Customer Protection Rule is the ONLY WAY to defend against “naked shorting” securities fraud … but broker-dealers choose to ignore this rule most of the time, and the regulators turn the blind eye.

Rule 15c3-3 applies to OTC:BB and to Pink Sheet equities. It mandates that any “failure to receive” of certificated shares that were purchased are to be bought-in by the purchasing brokerage firm on the 10th business day after the settlement date. It’s up to the purchaser of the shares, the Investor to start the process rolling …

The law also states that the selling firm in the transaction is to buy-in their client who is doing the selling if he hasn’t produced the certificate within 30 days of settlement.

The law further requires brokerage firms to buy-in “failures to receive” and to deliver the shares within 45 days of filing quarterly reports that noted these “Fails”.

The rule exists …. The SEC’s job is to enforce it. Take possession of your certificates to force their hand.

And, let your voice be heard … http://www.investigatethesec.com/