lol you going by dan dan now? but yes you make some very good points
kills me how everyone is up in arms over a ten day suspension and a trip to the gay sheets.
why all the acting like life is over, didnt anyone check the disclaimers from their brokers.
Investing in securities of any kind (especially) pink , gray, otc, anything american right about now is RISKY!!
YOU MIGHT LOSE ALL YOUR MONEY!!!
these people need a reality check
these are the chances you take, now as for the disservice done to us by the sec? Well now that may turn out to be a completely different story. I am sure kermit will be the first to let us all know if and when we take their arses to court. Personally?...I am thinking we may just have to do exactly that. Unless they come up with some sOrt of real good explanation for this bs, AND MAKE IT PUBLIC!!!
So far i don't believe any of their nonsense, and I dotn believe cargo's analogy of the 35 and their need to trade today tomorrow or next month for that matter. Their is among the 35 some things that will need correcting, and maybe for us to, but until that is proven....not alleged...but proven it is another story entirely.
It is a raped ape this spamalot, turned loose on the csi team from hell, and they have botched it for sure. The proof is in the pudding, few of these companies have spam of any quantity at all, the real spam assasins were not even suspended yet!!
top offenders and their not the first to raked over the coals?????
inadequate and inaccurate information in pr's ?????
show me a single pr that could not fit that description!!! lol RIDICULOUS this is the pinks.
I have a growing feeling their is much much more to this than meets the eye at first glance and they are wishing and hoping it is soon forgotten.
Even if they come up with a whole new list of spammers, there is one simple fact that remains unaddressed, and it can be found on the disclaimer of every single spam reporting site on the internet.
and it reads exactly or close to as follows.
"Please note that stock spams are most often sent by third parties trying to manipulate the company's stock, and the company is typically not responsible for the spam. "
Now as for the other bs underlying the other allegations, it seems to me to be a bit precocious to believe they have properly cast this dragnet over all 35 companies.
check this story today below, seems like theres a lot of sleight of hand going on, a lot of corruption on the go on the part of each and every segment that makes up our markets, what kils me is the ones who really sufer are not the "yet to invest" but the "already invested"
I believe if there is anything any of you want to do, it is to write letters, send emails, make phone calls , press lawsuit actions, until these bungholes realize we are not going to lie down for one more year of this crap, and take some definitive steps to deal with it at all levels.
"SEC, Amex Settlement Will Step Up Surveillance Thu Mar 22, 2007 7:01 PM BST WASHINGTON (Reuters) - The American Stock Exchange will create a $3 million reserve fund to pay for audits of the exchange's surveillance, investigation and disciplinary programs, the U.S. Securities and Exchange Commission said on Thursday.
The settlement resolves SEC allegations that the exchange failed to adequately enforce certain order-handling rules and comply with record keeping-requirements from 1999 through June 2004.
The Amex, which has hired Morgan Stanley to help prepare for a possible initial stock offering or merger, trades more than 800 stocks, various types of options and more than 100 exchange-traded funds. As part of the settlement, the Amex neither admitted nor denied wrongdoing.
"The SEC settlement represents an important step in moving forward and putting our past regulatory issues behind us," said Neal Wolkoff, Amex chief executive officer. "We have taken key initiatives over the past two years to improve all areas of the exchange and regulation has been a top priority."
Wolkoff became head of the exchange in April 2005. Former Chairman Salvatore Sodano was accused by the SEC on Thursday of failing to enforce compliance with federal securities laws and exchange rules.
SEC Associate Director Scott Friestad said Sodano "ignored repeated red flags" about the Amex's regulatory deficiencies.
"Senior management of a self-regulatory organization play a critical role in establishing a culture of compliance and are ultimately responsible for ensuring that the organization is meeting its regulatory objectives," Friestad said in a statement.
In an earlier settlement in September 2000, the SEC found that the Amex had failed to enforce compliance by its members with exchange rules for handling options orders.
At that time, the SEC ordered the Amex to improve its surveillance and enforcement programs after finding the exchange failed to take appropriate action for violations of firm quote, customer priority, limit order display and trade reporting rules.
"The Amex failed to comply with these obligations," the SEC said in Thursday's settlement order.
"In addition to incorrectly applying the firm quote rule and using unreasonable surveillance parameters, the Amex failed to investigate conduct that its surveillance reports identified as potential rule violations," the SEC said.
The latest settlement requires the Amex to tighten its customer priority rules within 60 days and launch an annual training program for all floor members.
The Amex also agreed to set aside a reserve fund of $3 million to pay for an annual, comprehensive audit for three consecutive years to ensure compliance with both federal securities laws and the exchange's own trading rules, the SEC said.
The SEC also issued an order against a former Amex vice president, Richard Robinson, who was responsible for overseeing the exchange's regulatory surveillance programs for the derivatives and options markets.
SEC files charges against Hofstra's Sodano BY SUSAN HARRIGAN susan.harrigan@newsday.com
March 22, 2007, 4:53 PM EDT
The Securities and Exchange Commission today charged Salvatore Sodano, dean of the Frank G. Zarb School of Business at Hofstra University, with failing to enforce compliance with federal securities laws while he headed the American Stock Exchange.
Sodano, a Nissequogue resident, was chairman and chief executive of the exchange from 1999 to 2005. The SEC action came as the New York-based exchange simultaneously settled allegations that it allowed brokers to violate order handling rules between 1999 and 2004.
In a call to Newsday, Sodano said he is contesting the SEC charges, instead of accepting a settlement and a censure, because "I honestly believe I did everything I should have done, and I simply want the opportunity to defend my reputation."
Hofstra University issued a statement saying that before he was appointed to his job, Sodano informed the school of the possible SEC administrative charges, but "did not expect that any action would be taken." The school said it supports Sodano's efforts to defend himself, and that he "has assured the university that the case will not distract him from his reponsibilities as dean of the business school."
Sodano's attorney, Bill Baker, with the Washington office of Latham Watkins, said in an e-mail that Sodano "intends to vigorously fight" the SEC's action.
"While there is no dispute that violations occurred," it also is undisputed that "Mr. Sodano was unaware of the violations at the time they occurred," Baker said in the e-mail. He said Sodano had "immediately reported" the violations to the SEC when he learned of them, and had directed "an extensive remediation effort."
There is no evidence that anyone at the Amex, including Sodano, benefited from the violations, and if the allegations are proven, the only penalty available to the SEC is censure, the e-mail s
ALSO I FIND THIS ONE PARTICULARILY INTERESTING
SEC eases curbs on foreign firms Bloomberg News Originally published March 22, 2007 WASHINGTON // The Securities and Exchange Commission approved new regulations yesterday that will make it easier for foreign companies to delist from U.S. stock exchanges and withdraw from SEC oversight, including the requirements of the Sarbanes-Oxley law.
Trading threshold
The regulation will allow companies to delist their shares if U.S. trading is 5 percent or less of a firm's daily volume worldwide. The rules will take effect before a June deadline for complying with Sarbanes-Oxley's audit requirements, regulators said.
"By changing the rule to make exit easier, we may well attract more interest" in U.S. capital markets, said SEC Chairman Christopher Cox. "Markets that are more open presumably attract more people, not fewer."
Congress passed the Sarbanes-Oxley Act, which requires executives to certify the accuracy of financial statements, in 2002 after accounting frauds at Enron Corp. and WorldCom Inc. eroded investor confidence.
Higher audit and legal costs stemming from the law have prompted foreign companies to reconsider the benefit of listing their shares in the U.S.
European regulators, including Charlie McCreevy, the European Union's financial services commissioner, have said earlier versions of the SEC's delisting rules made it too hard for overseas companies to leave, making the decision to register shares in the U.S. in the first place a risky one.
"This is very good news for trans-Atlantic relations and the trans-Atlantic financial regulatory dialogue," said Oliver Drewes, a spokesman for McCreevy. " ... It's a great step forward."
The SEC's move comes as U.S. regulators are debating ways to make domestic markets more competitive with their overseas rivals.
Sarbanes-Oxley Executives and business groups blame Sarbanes-Oxley for a decline in U.S. stock-market listings. They say the law's costs have driven companies to less-regulated markets, such as the London stock exchange. U.S. companies spent an estimated $6 billion last year complying with Sarbanes-Oxley, according to AMR Research in Boston.
Twenty-nine percent of the 1,200 foreign companies regulated by the SEC will be eligible to pull their U.S. listings under the proposed rules, said John W. White, director of the SEC's Division of Corporation Finance.
"We think we have a combination of things coming together that will make listing in the U.S. more attractive," White said.
The SEC has revised its foreign-listing regulation twice since proposing it in 2005. In December, the agency proposed letting companies withdraw from its oversight if U.S. trading equaled 5 percent of daily buying and selling in the firm's home market.
SEC Commissioner Paul S. Atkins said, "We are remedying a problem that has been festering for decades."
Overseas companies that choose to pull their U.S. listing would have to disclose their plans to shareholders in a news release. The firms also will have to make future financial statements available in English over the Internet.
If what you all say is true about "Matching Trades"why not test the theory with loyal eqbm shareholder A putting odd amount of nominal shares for sale....say...18,154 @ (insert any price in recent range) and loyal eqbn shareholder B calling in a test buy offer for the exact share amount and share price ? If things are as cut in gray stone as theorized you will see the trade printed in T-Sales.
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