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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)
VSAT 32.13-6.6%Dec 17 3:59 PM EST
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To: Stock Watcher who wrote (31011)4/2/2000 2:01:00 PM
From: Dave Gore  Read Replies (1) of 52051
 
SW, the SEC states that they look at every complaint but do not disclose how seriously they take it and whether it gets forwarded on for follow-up. You can actually speak to someone at your local SEC office or fax complaints as well. But they don't comment on investigations pending until they are complete.

In my experience the NASD acts a little quicker and you may hear from them sooner, as they police they members pretty well.

I know many are complaining. I hope more do, so that the message gets through. The SEC has done an excellent job of warning people about the OTHER risks of trading penny stocks and stocks in general on the OTC/BB. What they have not done a great job of yet, imo, is the effective policing of Market Makers and corrective actions when they play these horrendous games that potentially hurt every investor in OTC/BB securities.

As I have said many times, the Market Makers have a difficult job in maintaining an orderly market, especially when trading volume is abnormally high, and most of the time, in most issues, they do a good job. But when they manipulate and abuse their power, that is when we all have a big problem.
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