This is getting tiresome. Here is your quote again:
<<Of course, as you indicate, there are many other ways to accumulate or to distribute clandestinely, such as making prior arrangement with other market makers.>>
You stated, "prior arrangements." This has nothing to do with using Selectnet Pref or Instinet to make transactions "invisible." Agreements made in advance by market-making firms who are legally required to fairly make a market in stocks in which they deal are barred by securities laws. Many firms, such as GSCO, SBSH, LEHM and Barney were forced to settle a lawsuit, brought by the SEC, almost exactly one year ago. In the wording of the settlement, which amounted to some $1 billion, these firms admitted to "widespread fraud and collusion." The practice you describe above, making "prior arrangement," is illegal. It is collusion. End of story. I suggest you consult any credentialed securities attorney. It is very clear you have absolutely no knowledge of securities and exchange law. |
