It is happening all over the industry. I know people are getting calls from Schwab, for example, if they buy and sell near the same price in the same day.
The word is out inside the business that much of the volume in microcaps is "washed" volume and the online brokers is where much of it has been effectuated. This is why anytime they see something with a stock which raises doubts, they don't bother to hesitate, they just force a phone in order. The SEC has already said in a news conference that things are changing and they are out to remove fraud from the promotion side and the finance side of the business.
The last three months have shown significant changes already.
The recent move to turn over authority to the NASD of the microcaps has caused rapid changes and will also cause the penny market to go through some rough sledding over the short term, but in the end, it should make it much better for everyone who tries to do it the right way. Too many people have been getting wiped out in the scams. It is for the protection of the integrity of the markets which have not shown much integrity in this sector until recently.
It is kind of ridiculous that the Canadian markets are cleaner than our own lately. That is getting ready to change.
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