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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (1924)	7/22/2003 5:36:32 PM
From: CountofMoneyCristo	Respond to of 3143

You might want to review SEC v. Park, before coming to conclusions. Legal precedent is not on your side. sec.gov Before submitting his settlement offer, Park moved to dismiss the Commission's Complaint, arguing primarily that, since he dispensed his stock picks and investment advice over the Internet, he was not an "investment adviser" within the meaning of the Advisers Act and that the antifraud provisions of that Act could not be constitutionally applied to him. The District Court denied Park's motion to dismiss in its entirety and held that the Commission's Complaint sufficiently alleged that Park was an "investment adviser" under the Advisers Act and that Park was subject to that Act's antifraud provisions. SEC v. Park, 99 F. Supp. 2d 889 (N.D. Ill. 2000). Efforts by Park to seek interlocutory review of the District Court's ruling were rejected by the Seventh Circuit.