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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: ravenseye who wrote (2546)6/23/2007 1:23:08 PM
From: Savant  Read Replies (1) of 5034
 
That ruling has more holes that Swiss cheese...just like the leak ridden 'Firewall' between analysts and brokers and traders in firms.

"In order to ensure that the rule does not unduly limit the pool of possible purchasers in follow on and secondary offerings, it includes a provision to allow a restricted period short seller to participate in an offering if the seller makes a bona fide purchase prior to pricing an offering. Moreover, the amended rule also includes exceptions concerning investment companies and certain other entities that make separate trading and investment decisions. Thus, for example, the rule does not prevent one account from purchasing in an offering even though a related account sold short during the restricted period where the accounts were not coordinating their trading or sharing profits."

When will it end? (that's rhetorical, of course}
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