Replies to post #3044 on NSS ~ Counterfeiting Stock ~ MM Games Played

[AlanC]

fourkids_9pets: Seems to me I've read that their books don't balance either. Speaking of transparancy I wonder what percentage of fines they collect is and what the aging is of those uncollected. Shouldn't that be a matter of public record?

[janice shell]

Since the SEC does not make its administrative pleadings public we have no way of knowing if this issue has been dealt with in any previous cases. Since SEC appellate briefs and district court pleadings are not readily available we have no way of knowing if the issue has been raised in any civil cases.

I don't quite understand this.

First, the SEC does make some administrative pleadings public. But that's only if the contra party decides to fight. If the contra settles, then sometimes there's an initial announcement, and always an announcement of the settlement. Both documents do offer "background", which is a brief history of what the perp has done. If you want to know whether the person or entity in question has been in trouble with the SEC before, you can do a search at the SEC site.

In addition, when actual administrative hearings take place, they're open to the public. In some cases, transcripts of the hearing and copies of the evidence introduced by both sides are available for purchase. That was true in the case of CMKX.

As for appellate briefs and district court pleadings, they're all available through Pacer.