To: CountofMoneyCristo who wrote (2461 ) 5/23/2001 7:25:17 PM From: CountofMoneyCristo Read Replies (2) | Respond to What this law means, among other things, is that any licensed brokerage firm engaged in deceptive or manipulative business practices is in violation of the law. Examples of illegal practices might be:1. engaging in agreements with unlicensed entities such as chat sites which could be construed to have the intent to manipulate traders for benefit of the brokerage firm and the chat site; The New York Times Money&Business Section on October 15, after my extensive interviews with Assistant Business and Financial Editor, Gretchen Morgenson:Payment for customer orders is common among brokerage firms. But the Securities and Exchange Commission requires such deals to be disclosed to customers, and the National Association of Securities Dealers prohibits the payment of such referral fees to unregistered individuals or entities like chat rooms. Asser claims Rea discussed terms with brokerage firms under which Rea would receive a fee for directing his subscribers to them -- a practice that would be illegal without disclosure to subscribers. Chat Sites and Instant-execution Broker-dealers, and How the Intent to Defraud Day Traders May Be Carried Out in the Modern Era 1. A day trader joins a chat site, where he/she may be asked to provide privileged information about which broker he/she currently uses;
