MANIPULATION IS RAMPANT --- Can We Stop It? Message Board

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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It?

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To: Dave Gore who wrote (278)	5/24/2002 6:00:30 PM
From: id	Read Replies (2) of 589

here is an interesting snippet from: usagold.com The Securities and Exchange Commission may not be as sleepy as it's looked lately. Outmaneuvered by savvy New York Attorney General Eliot Spitzer, who wrestled Merrill Lynch into a $100 million settlement to drop charges against its two-faced analysts, the SEC has a score to settle. And analysts could soon feel the brunt of SEC ire. The SEC's enforcement group is looking at analysts who traded against their own recommendations, a top flight legal eagle and securities law professor said. The SEC began a formal inquiry into market practices concerning analysts' conflicts of interest on April 25 and sources familiar with the agency say that analysts' trading practices are in the cross-hairs. "Analysts who recommend a stock and then dumped their own shares could be brought up under anti-fraud provisions," explained Coffee. Analysts trading for their own accounts contrary to their recommendations - for example, selling shares or shorting shares when they publicly gave the company the highest ratings - were discovered by the SEC during an initial inquiry into analysts' conflicts conducted last summer by then acting-SEC commissioner Laura Unger. id

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