Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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To: Savant who wrote (2547)	6/23/2007 1:28:27 PM
From: ravenseye	Read Replies (2) of 5034

US SEC changes rule to prevent abusive short sales Wed Jun 20, 2007 5:26PM EDT WASHINGTON, June 20 (Reuters) - U.S. market regulators approved a rule change on Wednesday to prevent abusive short selling and market manipulation around secondary stock offerings made by companies already publicly traded. The Securities and Exchange Commission (SEC) voted 5-0 to strengthen Regulation M and close a loophole that allowed short sellers to artificially depress market prices and reduce offering proceeds.... reuters.com ...The amended rule would prohibit a person who shorts stock during the restricted period before a secondary offering from buying any securities in the offering. "This proposal was triggered by persistent noncompliance with the rule and a string of strategies to conceal the prohibited covering," the SEC said....

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