Replies to post #289 on Carefree Group Inc (CRFU)

[youhavenoidea]

COULD THIS HAPPEN TOO SYNS?

WOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO


.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 51305 / March 3, 2005
The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 ("Exchange Act"), of over-the-counter trading of the securities of CMKM Diamonds, Inc. (Pink Sheets symbol "CMKX"), also known as Casavant Mining Kimberlite International, Inc., of Las Vegas, Nevada. The suspension will commence at 9:30 a.m. EST, March 3, 2005, through 11:59 p.m. EST, on March 16, 2005.

The Commission temporarily suspended trading in the securities of CMKM Diamonds because of questions that have been raised about the adequacy of publicly available information concerning, among other things, CMKM Diamonds' assets and liabilities, mining and other business activities, share structure and stock issuances, and corporate management. Since the fiscal year ending December 31, 2002, CMKM Diamonds has been delinquent in its periodic filing obligations under Section 13(a) of the Exchange Act. The Commission is concerned that CMKM Diamonds may have unjustifiably relied on a Form S-8 to issue unrestricted securities. The Commission is also concerned that CMKM Diamonds and/or certain of its shareholders may have unjustifiably relied on Rule 144(k) of the Securities Act of 1933 ("Securities Act") in conducting an unlawful distribution of its securities that failed to comply with the resale restrictions of Rules 144 and 145 of the Securities Act.

The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by CMKM Diamonds.

Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to the securities of CMKM Diamonds until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation for the stock of CMKM Diamonds that is in violation of the rule, the Commission will consider the need for prompt enforcement action. For questions related to the operation of Rule 15c2-11, please contact the Division of Market Regulation at [phone].

If any broker, dealer or other person has any information that may relate to this matter, please contact the CMKM Diamonds Investor Line of the Pacific Regional Office of the Securities and Exchange Commission at [phone] or by email at [e-mail].

[youhavenoidea]

Edgar J. Ward III

Registered Representative



Empire Financial Group, Inc.

866.253.EFGI (3344)

561.544.0200

Dir 561 544 0202

Fax [phone]

[e-mail]





Regards,



Edgar J. Ward III

Registered Representative



Empire Financial Group, Inc.

866.253.EFGI (3344)

561.544.0200

Dir 561 544 0202

Fax [phone]

[e-mail]

[youhavenoidea]

DO A GOOGLE SEARCH ON THIS IAN LAMPHERE DUDE..DIRECTOR OF SYNS WITH ANYTHONY MAROTTA

NOT GOOD..BUYER BEWARE

http://www.google.com/search?hl=en&q=Ian+Lamphere+sec

yiiiiiiiiiiiiiiiiiiiiiikes

http://investorshub.advfn.com/boards/board.asp?board_id=5247

[youhavenoidea]

SOONER OR LATER THEY WILL STEP IN..37 EMAILS SO FAR

*PLEASE DO NOT REPLY TO THIS MESSAGE*
Dear Sir or Madam:
Thank you for your recent e-mail to the group electronic mailbox of the Division of Enforcement at the United States Securities and Exchange Commission in Washington, D.C. We appreciate your taking the time to write to us. This automated response confirms that the Division of Enforcement has received your e-mail. You can rest assured that an attorney in the Office of Internet Enforcement will review your e-mail promptly.

We are always interested in hearing from members of the public, and you may be assured that the matter you have raised is being given careful consideration in view of the Commission's overall enforcement responsibilities under the federal securities laws. It is, however, the Commission's policy to conduct its inquiries on a non-public basis -- so this may be the only response that you receive. If your complaint is more in the nature of a consumer complaint (such as a dispute with your broker or a problem with your brokerage or retirement account), you should contact our Office of Investor Education and Assistance -- they may be able to help you. You may reach the Office of Investor Education and Assistance via telephone at [phone]or through the Web at HYPERLINK "http://www.sec.gov/complaint.shtml"www.sec.gov/complaint.shtml.

The Commission conducts its investigations on a non-public basis to preserve the integrity of its investigative process as well as to protect persons against whom unfounded charges may be made or against whom the Commission determines that enforcement action is not necessary or appropriate. Subject to the provisions of the Freedom of Information Act, we cannot disclose to you any information which we may gather and we cannot confirm to you the existence or non-existence of an investigation, unless made a matter of public record in proceedings brought before the Commission or in the courts.

If you are unsure where you should direct your inquiry or you want to learn more about how the SEC handles inquiries and complaints, please visit the SEC Complaint Center at HYPERLINK "http://www.sec.gov/complaint.shtml"www.sec.gov/complaint.shtml.

Should you have any additional information or questions pertaining to this matter, please feel free to communicate directly with us at HYPERLINK "mailto:[e-mail]"[e-mail].

We appreciate your interest in the work of the Commission and its Division of Enforcement.
Very truly yours,
S/
John Reed Stark
Chief, Office of Internet Enforcement
United States Securities & Exchange Commission

[youhavenoidea]

HERE'S THE REAL DEAL

http://www.millionairesconcierge.com/

[youhavenoidea]

Bounty Program at the SEC
The SEC is authorized to pay a bounty to a person who provides information that leads to the recovery of a civil penalty from those who violate the insider trading laws. With some exceptions, the SEC is permitted to award a bounty from the civil penalties actually recovered from violators. The total amount of the bounty may not exceed ten percent of the penalty.

The SEC has sole discretion whether to pay a bounty, the amount of the payment, and to whom the payment would be made. The SEC is not authorized to pay bounties for information about other violations of the securities laws.

For more information, read about the bounty program.

http://www.sec.gov/answers/bounty.htm




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[youhavenoidea]

HEY SYNS'S IR DUDE.. DOES THIS RING-A-BELL?????

It is also the primary Self Regulatory Organization (SRO) responsible for the regulation of its industry, with oversight from the Securities and Exchange Commission (SEC).

NASD

Not to be confused with Financial Industry Regulatory Authority.
For the Carnegie Mellon University research project, see Network-Attached Secure Disks.

NASD executive office on K Street in downtown Washington, D.C.NASD, Inc. (formerly known as the National Association of Securities Dealers) is an industry organization representing persons and companies involved in the securities industry in the United States. It is also the primary Self Regulatory Organization (SRO) responsible for the regulation of its industry, with oversight from the Securities and Exchange Commission (SEC).

Contents [hide]
1 History
2 Structure
3 Functions: Regulation and licensure
4 Size
5 Criticism
5.1 FINRA moving away from large fines
6 Arbitration
7 See also
8 References
9 External links



[edit] History
The NASD was founded in response to the 1938 Maloney Act amendments to the Securities Exchange Act of 1934. In 1971, NASD launched a new computerized stock trading system called the National Association of Securities Dealers Automated Quotations (NASDAQ) stock market. The NASDAQ and AMEX stock exchanges merged in 1998. Two years later, the NASDAQ underwent a major recapitalization and became an independent entity from NASD. In July 2007, the SEC approved the formation of a new SRO to be a successor to NASD. The NASD and the member regulation, enforcement and arbitration functions of the New York Stock Exchange were then consolidated into the newly created Financial Industry Regulatory Authority (FINRA).See SEC Release No. 34-56145


[edit] Structure
The NASD Board of Governors consists of two staff members (the CEO and the President of one of NASD's divisions), seven individuals representing the industry, seven more individuals representing the industry, and two individuals categorized as "non-public" but also representing the industry. [1]


[edit] Functions: Regulation and licensure
NASD regulates trading in equities, corporate bonds, securities futures, and options, with authority over the activities of more than 5,025 brokerage firms, approximately 169,470 branch offices, and more than 658,170 registered securities representatives. All firms dealing in securities that are not regulated by another SRO, such as by the Municipal Securities Rulemaking Board ("MSRB"), are required to be member firms of the NASD.

NASD licenses individuals and admits firms to the industry, writes rules to govern their behavior, examines them for regulatory compliance, and is sanctioned by the U.S. Securities and Exchange Commission ("SEC") to discipline registered representatives and member firms that fail to comply with federal securities laws and NASD's rules and regulations. It provides education and qualification examinations to industry professionals. It also sells outsourced regulatory products and services to a number of stock markets and exchanges (e.g. American Stock Exchange ("AMEX") and the International Securities Exchange ("ISE").

NASD founded the NASDAQ ("National Association of Securities Dealers Automated Quotations") stock market in 1971. In 2006, NASD demutualized from NASDAQ by selling its ownership interest.


[edit] Size
NASD has a staff of nearly 2,000 and an annual budget of more than $500 million. [2] The NASD is funded primarily by assessments of member firms' registered representatives and applicants, annual fees paid by members, and by fines that it levies. The annual fee that each member pays includes a basic membership fee, an assessment based on gross income, a fee for each principal and registered representative, and charge for each branch office.


[edit] Criticism
In recent years, the securities market has become increasingly "retail"; with a majority of Americans owning stock through their employers and personal investing. Being an industry organization, the NASD has been accused of turning a blind eye to broker/dealers' biggest abuses. Some feel that while larger problems have gone unaddressed, the NASD has pursued minor rule violations. As a result of this, various groups feel that investors continue to lose money through various broker/dealer scams which should have been previously addressed. [citation needed]


[edit] FINRA moving away from large fines
After several years of punitive enforcement actions, FINRA has reduced the number of fines in excess of $1 million. According to a study by Deborah G. Heilizer and Brian L. Rubin, both partners in Washington with Sutherland Asbill & Brennan LLP, regulators with NASD – now FINRA – and NYSE Regulation obtained fines of over $1 million in 35 actions taken in 2005. But in 2006, that number dropped to 19. And the number of enforcement actions over $5 million also fell. In 2005, there were seven such actions as opposed to three in 2006. According to the written report, the “data suggest that securities regulators may have retrenched their efforts to regulate through the use of novel theories.”[3]





[edit] Arbitration
The NASD operates the nation's largest arbitration forum for the resolution of disputes between customers and member firms, as well as between brokerage firm employees and their firms. Virtually all agreements between investors and their stockbrokers include mandatory arbitration agreements, whereby investors (and the brokerage firms) waive their right to trial in a court of law. The fairness of such mandatory arbitration clauses has been called into question; however, U.S. courts have consistently found them to be lawful.

As of June 2005, the pool of arbitrators consisted of 2,700 individuals classified by the NASD as industry panelists and 3,700 individuals classified as non-industry panelists.

In 1987, in Shearson/American Express v. McMahon, the United States Supreme Court ruled that account forms signed by customers requiring arbitration for disputes were enforceable contracts. Brokerage firms now require all customers to sign such documents, requiring binding arbitration.

For disputes between customers and member firms, the panel that decides the case consists of three arbitrators, one industry panelist and two non-industry panelists. For disputes between an employee and member firms, all three arbitrators are industry panelists. For a given case, the two sides are provided separate lists by NASD of local, available arbitrators, from which they chose. If one side rejects all listed arbitrators, NASD names the arbitrators who will serve; these can be rejected only for biases, misclassification, conflicts, or undisclosed material information, and biases or conflicts must be identified prior to the beginning of hearings. For an overview of the Securities Arbitration process, see Introduction to Securities Arbitration.

According to NASD, there were 6,074 cases for arbitration filed in 2005, a decrease from the peak of 8,945 cases filed in 2003. The average time to complete a case has risen from 10.5 months in 1995 to 14.3 months in 2005, a decrease from 2004 when it was 15.4 months. The percentage of cases where customers are awarded damages has fallen from slightly above 50% in the 2000-2002 period to slightly above 40% in 2005. The NASD rates any positive award to a customer as a win for the customer regardless of the magnitude of losses or legal fees.[4]

NASD rules do not require parties to be represented by attorneys. A party may appear pro se, or be represented by a non-attorney in arbitration. However, representation by a non-attorney is not advised since this may be the unauthorized practice of law. [5] Brokerage firms routinely hire attorneys, so a customer who does not can be at a serious disadvantage. One organization whose members specialize in representing customers against brokerage firms in NASD and NYSE arbitration is the Public Investors Arbitration Bar Association ("PIABA").

In June 2006, Lewis D. Lowenfels, one of two partners at the New York law firm of Tolins & Lowenfels, and co-author of the looseleaf treatise Bromberg and Lowenfels on Securities Fraud and Commodities Fraud, 2d said of the NASD arbitration process: "What started out as a relatively swift and economical process for a public customer claimant to seek justice has evolved into a costly extended adversarial proceeding dominated by trial lawyers and the usual litigation tactics." [4]

Wikibooks has a book on the topic of
Series license



[edit] See also
FINRA
NASDAQ
List of finance topics
American Academy of Financial Management
Alternative display facility
ACT (Nasdaq)
Securities regulation in the United States

[edit] References
^ NASD Board of Governors
^ About NASD
^ [ 'Supersized’ fines on the wane, study says – Oct. 3, 2007, issue of “Investment News”]
^ a b Is This Game Already Over? Critics Say Arbitration Panels Often Have Hidden Conflicts, Gretchen Morgenson, New York Times, June 18, 2006
^ NASD Frequently Asked Questions, "Do I need a lawyer for arbitration?"

[edit] External links
NASD home page
Securities and Exchange home page
NASD Regulations
Retrieved from "http://en.wikipedia.org/wiki/NASD"
Categories: NPOV disputes | All articles with unsourced statements | Articles with unsourced statements since March 2007 | 1939 establishments | Industry trade groups | Financial regulation in the United States | Self-regulatory organizations | Financial regulation | Economy of the United States | United States law | Securities

[youhavenoidea]

PAINT THAT TAPE AT THE CLOSE EW