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Pastimes : The truth about SI and IHUB -- Ignore unavailable to you. Want to Upgrade?

To: mmmary who wrote (54)	6/2/2003 5:50:00 PM
From: Sr K	Read Replies (1) \| Respond to of 124

My only quibble, based on the info I've seen here, is whether the "securities fraud" was a violation of the 1940 Act ("investment advisor") or the 1933 Securities and Exchange Act. Investment Advisors had and have strict requirements which include disclosure, even if unclear boilerplate, about compensation and trading positions (short, long or hedged), and including the wording "Past performance is no guarantee of future performance". Do you still hold to the wording you used? Was MB a Registered Investment Advisor? Did he skate through the Internet loophole (too small to make a case about), or as some other type of advisor? But I agree, committing fraud is quite possible without being charged, and without being convicted. The actions compared to the law practically speak for themselves.