Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (14750)	1/9/2001 4:16:16 PM
From: jkernan	Read Replies (1) of 18998

Fiero was shorting fraud stocks and Mr. Fiero is a market maker and did not need to secure a borrow The Hearing Panel also found that Fiero violated short selling rules from Jan. 20 through Feb 23, 1995 by failing to make the required affirmative determinations prior to engaging in short sales of the Hanover Sterling stocks. NASD rules restrict ``naked'' short sales, that is selling a stock short without ensuring that the stock can be borrowed or otherwise provided for by settlement date, also known as an affirmative determination. The Hearing Panel concluded that Fiero was not entitled to the market maker exemption from the affirmative determination rule during the time his firm was registered as a market maker because it was not engaged in bona fide market- making transactions. Fiero manipulated the market for the Hanover securities through his purchases and resale of the extorted stock and his illegal, naked short selling. Pink, stop kidding yourself. Is 3rd point registered as a MM as well? What did Fiero make a market in then, and what does he make a market in now?

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