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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From: pcyhuang	3/26/2008 7:50:59 PM
	of 5034

CBOE's Response On Options Traiding on Pink-Sheet Stocks CBOE Responds National Investor Protection Coalition info@investorprotectioncoalition.org RE: Your complaint regarding Option Contracts written on the underlying NOVS.PK Security. Dear Mr. Vallarino, Please be advised that the Chicago Board Options Exchange's Department of Market Regulation (“Department”) has received your letter of complaint regarding the above noted matter. The Department is currently reviewing the matters raised in your complaint to determine if Exchange Rules may have been violated and if disciplinary action against any Exchange members might be warranted. When the Department assesses an investigative report, it determines whether probable cause exists that a violation within the Exchange’s disciplinary jurisdiction did occur and whether disciplinary proceedings are warranted. Please be aware that these proceedings can take some time and that details of such matters can only be made public when the proceedings are concluded When the review is complete and if no rule violations are apparent, you will be notified of the Department’s final determination at that time. If you are so notified, you may request that staff submit your complaint for additional review, provided that such request is made within fifteen (15) days and in writing to the undersigned. Thank you for bringing this matter to staff's attention. I hope that this letter has clarified the Exchange's procedures for reviewing customer complaints. Staff will advise you of the regulatory determination as expeditiously as possible. Sincerely, Linda Gerdes Department Head Department of Market Regulation --- pcyhuang

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