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Microcap & Penny Stocks : Amazon Natural (AZNT)

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To: Jeffrey S. Mitchell who wrote (24150)	10/23/1999 12:51:00 AM
From: wonk	Read Replies (5) of 26163

For all those who complain about illegal shorting on the OTB-BB THERE IS NO SUCH THING AS ILLEGAL SHORT SELLING OF AN OTC-BB SECURITY. IN FACT THE SEC DOES NOT CURRENTLY REGULATE SHORT SELLING OF OTB-BB SECURITIES. Well, here's the law - straight from the SEC, in plain english. ...Current short sale regulations cover securities that are either listed on an exchange or traded in the Nasdaq NMS. As a result, they cover securities that are generally characterized by high trading liquidity. In addition, these markets have a relatively high degree of transparency. Securities traded in the OTC markets (e.g., Nasdaq Small Cap, the NASD's OTCBB, the Pink Sheets) are not subject to short sale restrictions. The staff frequently receives complaints alleging short sale abuses involving securities in the OTC markets. As a corollary to other concepts presented in this release, we seek comment on regulating short sales in this market sector. We recognize that Section 10(a) does not grant specific authority to the Commission to regulate short sales of securities not listed on a national exchange. Thus, regulations that extend short sale regulation to new market sectors would have to be adopted under other available statutory authority... sec.gov Pass the word... ww p.s. Sorry for shouting, but I've had it with all the touts complaining about "illegal shorts." p.p.s Thanks to Arcane Lore for finding this GEM of a Rulemaking.

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