Re: Pump and Dump

On 5/4/2006 1:24 PM indigo scribbled:

> Tim McGraw wrote:
>> Berny wrote:
>>> P&D is Illegal, but difficult to prove.
>>>
>>> It depends on where the shares have been traded, probably at the
>>> Vancouver Stock Exchange,which is part of the TSX, so you need to
>>> file a formal complaint with the Ontario, and, British Columbia
>>> Securities comissions, they have a web page, complaint would have
>>> to be on paper., I would CC the NASDAQ and SEC (USA) also.
>> I'm not an investor, but I don't believe NASDAQ has anything to do
>> with microcaps.
> 
> The issue isn't whether it's a microcap or not, it's what exchange the stock
> is traded on. If it's a pink sheet stock (over the counter), obviously you
> can't complain to NASDAQ about it, but if it's traded on NASDAQ you sure can
> file a complaint with them or the SEC (and it will be taken seriously). But
> since the stock price has to be above $1.00 for it to be listed on NASDAQ,
> chances are that it's not on that exchange.
> 
> 
AFAIK, if the fraud /isn't/ perpetrated by a /member/ of NASDAQ, NASDAQ
has no interest - they have enuff fish to fry -
its spelled out on their site in pretty plain english -

> https://apps.nasd.com/Investor_Information/complaints/spam.asp


> While NASD does not prohibit its member brokerage firms or their employees from sending out spam, it does regulate the content of such messages sent to the public. In any communication with the public, NASD rules require that a member identify itself and that investors be given enough information to make a sound investment. NASD rules prohibit statements making promises.
> 
> Remember, though, that NASD can only regulate the actions of its member brokerage firms and their employees. While all U.S. brokerage firms have to be members of NASD to do business with the public, most problem spams are likely sent to you by non-regulated businesses or individuals.
> 
> You can check out if the firm or individual spamming you is registered with NASD on our Web site.
> 
> If you think that the problem spammers may be registered with NASD, you can forward spam or junk e-mail recommending that you invest in a stock or other investment to [email protected].
> 
> If the spammers are not registered with NASD, you can forward spam (junk e-mail) or copies of message board postings to [email protected].