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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation? -- Ignore unavailable to you. Want to Upgrade?

To: ravenseye who wrote (2722)	8/21/2007 5:19:51 AM
From: rrufff	Respond to of 5034

Now here's a real slap on the wrist while they continue the scam. Alpine Securities Corporation (CRD #14952, Salt Lake City, Utah) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $27,500. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it had failed to deliver positions in threshold securities at a clearing agency for 13 consecutive settlement days, and failed to immediately close out the fail to deliver positions by purchasing securities of like kind and quantity, or failed to borrow the security or enter into a bona fide arrangement to borrow the security before executing proprietary short sales in connection with its market making activities. The findings also stated that the firm incorrectly reported to the NASDAQ Market Center (NMC) that customer sale transactions under SEC Rule 144 were long sales and proprietary sale transactions were exempt short sales. The findings also included that the firm’s supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable securities laws, regulations, NASD Rule 6130(d)(6), and SEC Rules 200(g)(Order Making), 203(a)(Long Sales), 203(b)(Locate Requirements), 203(b)(3) and 203(b)(3)(iii)(Pre-Borrow Requirements). (NASD Case #20060044708-01) finra.org