Replies to post #168729 on CMKM Diamonds Inc (fka CMKX)

[Sec 10]

Ret-under current law states that public companies with over 300 shareholders are required to report from the git-go.

Many ignore the requirement, and SEC enforcement is lax, and slow. It is improving somewhat, however.

A simple regulation prohibiting companies that are required to report, and which are non-compliant in that reporting, from being traded via any electronic exchange would eliminate 90% of Stink Sheet fraud.

[pantherj]

Ret, are you sure you meant to reply to my post? i don't see the connection.

Re: your point about the SEC requiring companies to report from the beginning. Umm they do. But the enforcement is lax. i do not know exactly why. perhaps a manpower shortage. I propose that the SEC require the various exchanges of suspending trading in any company does not file on time, allowing ONE 30 day extension, untill all filings are current ... and that there be a meaningful fine imposed as well. i would also propose that if the TA is in any way gagged, even for one week, that trading be immediately halted.

These two simple adjustments would have prevented the financial ruin of many people and made scams in public much harder to perpetuate.