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Microcap & Penny Stocks : PLNI - Game Over -- Ignore unavailable to you. Want to Upgrade?

To: donpat who wrote (1485)	12/29/2005 4:55:37 PM
From: scion	Read Replies (1) \| Respond to of 12518

The SEC is not good at monitoring penny stocks. They use the excuse of lack of staff and try to concentrate on high profile companies instead. They have no powers of arrest and must rely on the DOJ to act for them. Even when they manage to get a judgment against penny stock scammers, they often fail to force disgorgement of ill-gotten gains or levy a pitifully small fine in comparison to the money stolen from the small investors. Even so, if they get sufficient complaints with documented evidence of misleading press releases and 'mistakes' in the SEC filings they will be forced to act. However, if they just rigorously applied the existing rules to penny stocks they would cut the number of frauds dramatically. I do not recommend holding one's breath while waiting for the SEC to enforce existing rules.