To: jmhollen who wrote (144582 ) 5/24/2005 11:27:07 PM From: M0NEYMADE Respond to of 150070 Second...AMERITRADE IS NOTIFYING GVRP SELLERS THEY ARE SHORT!!! APPARENTLY!!! Posted by: pdc021376 In reply to: shmolton who wrote msg# 52708 Date:5/24/2005 10:21:04 PM Post #of 52771 Appaently they are calling people and saying they are short now .... but nice finds by timmage, bob, art, etc... "NASDR also notes that the obligation for making an affirmative determination and complying with the Bid Test Rule rests with member firms and may not be shifted to customers. For instance, members may not satisfy the Affirmative Determination Rule for short sales by merely giving warnings to customers that they are required to make good delivery of the securities or that they will be financially responsible for any losses incurred from covering short sales." and "receipt of a short sale and the "inadvertent" nature of a short sale in no way eliminate or reduce the obligations of member firms to comply with the short sale rules." Both of these items are found here in the NASD regulations.nasd.com Also it appears that we are supposed to be notified if a position might be sold short according to this statement from the NASD. "Notwithstanding the fact that the customer may not intend to sell short, a member that offers online trading services to its customers must program such systems to ensure that the member is complying with all trading and market-making rules, including the short sale rules. In other words, when the above referenced situations occur, members’ systems should consider the stock positions in customer accounts and the number and status of all orders and cancellation instructions. Member firm automated systems should execute such short sales in compliance with the short sale rules, and NASDRSM and Nasdaq recommend that firms design their systems to provide customers with notice when they may have placed an "inadvertent" short sale. In sum, the means of receipt of a short sale and the "inadvertent" nature of a short sale in no way eliminate or reduce the obligations of member firms to comply with the short sale rules."