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SI - Site Forums : Questions and Answers with SI Admin (s)
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To: Jill Munden who wrote (303)7/21/2000 7:48:53 AM
From: Don Pueblo  Read Replies (2) of 4890
 
Jill, I have a few questions:

I've seen a couple of paid touts appear on SI recently. Not too unusual, they appear all the time.

(You can search subject titles for the word "tout" to see a few of them.)

Question 1: Your legal department must be familiar with the SEC regulations that require full disclosure of compensation by paid promoters. The law seems very clear to me. You should after all these years understand that allowing a paid penny stock promoter to pitch a penny stock on this site without disclosing that he is being paid by the penny stock to do so could theoretically not be in the best interests of the members of SI, regardless of the potential legal problem. I assume that there must be some good reason for you to continue to allow it. Please tell me what it is. Why is it that Silicon Investor allows these paid promoters to apparently violate these laws on Silicon Investor?

Question #2: Many of these paid touts advertise their own sites on SI. I see no specific admonition anywhere on the site that cautions them against this. I see no disclaimer on this site that members could be reading material that was posted by someone who is advertising his own business. I see no effort by you or anyone else in your company (Admin Bob excepted) to police this site and make it safer for the average investor. I do it because I think it's really important so people don't get scammed. Without getting into a discourse about why I think stock touts who try to circumvent federal law are two rungs above the lowest form of human scum on the planet, and just below scam investment firms like the fictitious one depicted in the film "Boiler Room", I would sincerely like to know what Silicon Investor's policy is on allowing advertising (much of it free) by penny stock promoters. Why should I continue to bust these people and try and make this site safer when you keep allowing this manure to continue?

Question #3: The CEO of GNET said in a public post over a year ago that there should not be banner ads on the member side of the site. I see lots of banner ads. Has the policy of the CEO of GNET changed?

Thank you,

TLC
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