DD Support Board and Research Team

[MaxShockeR]

Good Job Renee :) so our RED FLAG ratings system would come in handy LOL !!!


http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66399712


thanks for the roundup, since i still did'nt view all the video yet only 1/3 of it, besides the DTCC's chills and the Knight Securities, i like these parts below that you noted.

Various panelists talked about red flags and the necessity for Gatekeepers ( eg Broker Dealers, Transfer Agents, Clearing Firms ) to file SARs ( Suspicious Activity Reports ) to the SEC and DTCC on all suspicious trading activities that invariably involve the selling of unregistered or questionably registered shares. The panel agreed that any microcap company that changes business operations should be cause for a SARs. SEC Chairman Schapiro said that one SARs may not be cause for a Suspension or an Inquiry but she exampled that 3 SARs from various Gatekeepers could. She (and other panelists ) state that SARs are accelerating from 578 reports in 2006 to over 1600 in 2011.

Cromwell Coulson, CEO of the OTC Group plauded the tier system for being an excellent resource for the SEC to investigate SARs, conduct Investigations, and invoke Suspensions. Coulson advocated for mandatory requirements for Transfer Agents to file all increases in shares of an Issuer.

Coulson stated the OTC Group has a published list of Lawyers who have written questionable Legal Opinion Letters.

Coulson stated the OTC Group has been given more authority to request additional information from all Issuers, and the OTC Group is downgrading an increasing amount of Issuers to Caveat Emptor for failure to provide requested information.

Coulson recommended that Transfer Agents be required to post accurate Outstanding Shares and to post all officers and directors of Issuers.

Coulson recommended that insiders and promoters be restricted from selling new share issuances for one year. <== oh hell yeah!!

Coulson stated that even with all the warnings and protections the OTC Group provides that they " can't protect dumb investors ".

Closing statements from various panelists addressed dead shells being used to commit microcap fraud, and that vastly improved technologies allow viral frauds to happen quicker than can be detected, therein the need for a central repository for all Gatekeepers to access to identify the repeat offenders in order to expose a current fraud and take action BEFORE they can start their next fraud