For all you Diana fans from 1996:
nyse.com
Individual Disciplined for Improper Internet Communications
Jens Dalsgaard of Mahopac, N.Y., a registered representative,
consented without admitting or denying guilt to findings that he
circulated rumors via Internet postings that might reasonably be
expected to affect market conditions on the Exchange and
distributed communications to the public via Internet postings
without the approval of his member firm employers.
ú An NYSE hearing panel found that, from Jan. 17-March 3, 1996,
Dalsgaard, without approval from his member firm employers,
published on the Internet rumors which might reasonably be
expected to affect investor interest in a stock listed on the
Exchange in which he and his customers had an interest. The
panel found that, among other things, on Jan. 17, Dalsgaard
made two Internet postings (using his home computer and
Internet connection) to a public newsgroup, soliciting interest in
the stock of Diana Corp., which is no longer listed, and
specifically, soliciting interest in initiating a "short squeeze" on
the stock's short sellers.
ú The hearing panel found that Dalsgaard had not informed either
of his member firm employers that he was using his own personal
computer to send Internet communications concerning the
company, nor did he inform his supervisor or seek his
supervisor's approval at the firms of his Internet postings on the
company.
The NYSE imposed a penalty of a censure and $15,000 fine.
Dalsgaard consented to the penalty. |
