THE BOTTOM LINE: DO YOUR DUE DILIGENCE!
1. Know your source of information. Track record, integrity, etc.
2. Check the filings of the company and what stock is out there. (that takes experience so don't feel stupid)
By taking this "weapon" out of the hands of the promoters, and MM's it creates a "more level playing field" for all concerned.
We further encourage all of you which may or may not be fully familiar with these issues to do some Homework and let your voices be heard.
The SEC is proposing changes to the rules governing short sales
of securities on the OTCBB and is asking for public comments.
Over the Counter News Network has a good article;
otcnn.com
SEC proposal (Release No. 34-42037)
sec.gov
Comments to the SEC rule-comments@sec.gov.
include file number (File No. S7-24-99) in the subject line.
Tell the SEC you want the same rules for all stocks.
Our Rational: If any exchange is electronically listed or floor-traded, why should there be a "double standard" for Market Makers at the cost of unsuspecting investors? The SEC has set a "Mandate" and been working hard to create new sense of "Integrity" for the OTC through reporting requirements, etc. A unilateral set of guidelines for Market Makers, which should include the OTC, would seem a natural evolution of that mandate.
Your comments to TWP are also invited!
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