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Microcap & Penny Stocks : Amazon Natural (AZNT)

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To: EL KABONG!!! who wrote (23497)	8/27/1999 10:06:00 AM
From: Arcane Lore	Read Replies (2) of 26163

Brokerage will reject U.S. OTC business By The Financial Post VANCOUVER - Pacific International Securities Inc. is choosing to turn away business from what its chief executive, Max Meier, calls the "loosely regulated" over-the- counter-market in the United States to avoid being caught in future stock frauds. That decision comes from a major internal audit PI commissioned after two brokers it formerly employed were accused this year of fraud involving U.S. securities. The allegations, which also identified a French citizen as using PI accounts for stock fraud, were raised in a U.S. indictment in July. No allegations of wrongdoing were made against PI. Yesterday, PI said it will no longer let U.S. residents open accounts, nor will it allow certificates of U.S. over-the-counter bulletin-board stocks to be deposited to accounts. "Basically, our goal is simple," Mr. Meier said. "We want to minimize the risk that our firm could be used in the future as a conduit for questionable activities." ... canoe.ca

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