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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 (3760)	9/17/2008 5:33:33 PM
From: kknightmcc	1 Recommendation Respond to of 5034

The problem with this part of the new rules is that there will be a 30 day comment period and then we have to wait for the rule to be effective 5 days after publication in the Federal Register, which according to my understanding means the market makers can continue naked shorting stock for at least another 35 days, since publishing in the Federal Register usually comes after the close of a comment period on the topic in question. Correct me if I am wrong on this. Although the rule will be effective immediately, the Commission is seeking comment during a period of 30 days on all aspects of the rule. The Commission expects to follow further rulemaking procedures at the expiration of the comment period. Exception for Market Makers from Short Selling Close-Out Provisions in Reg SHO Repealed The Commission approved a final rule to eliminate the options market maker exception from the close-out requirement of Rule 203(b)(3) in Regulation SHO. This rule change also becomes effective five days after publication in the Federal Register.