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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: rrufff who wrote (3465)6/7/2008 4:04:18 PM
From: creede   of 5034
 
Hey rrufff, any ideas why I can't find NTM 75-16 or NTM 92-50? Sure would like to have those from the horses mouth.

Finally, the NASD warned members
that "any arrangement whereby a member charges an issuer a fee for making a market or accepts an
unsolicited payment from an issuer whose securities the member makes a market in raises serious
questions under the anti-fraud provisions of the federal securities laws." NTM 75-16. Staff also cites
to NTM 92-50, published in October 1992, which is a comprehensive guide regarding procedures for
compliance with SEC Rule 15c2-11 and Schedule H, Section 4 to the NASD By-Laws (now known
as Marketplace Rule 6740).5 NTM 92-50 states, "A market maker cannot accept any form of
compensation, including cash [or] securities . . . for the purposes of making a market, to cover out-ofpocket
expenses for making a market, or for submitting an application to make a market in an issuer's
securities." (emphasis added).


GB-ND
c
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