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Gold/Mining/Energy : Nevtah/Tower Oil Intl.- NTAH -- Ignore unavailable to you. Want to Upgrade?

To: Just My Opinion who wrote (1733)	6/27/1998 7:06:00 PM
From: Author51	Respond to of 3817

This from CW...It's time to clean up the act....... with my comments relating to short selling and unregistered share sales of OTC:BB issues. If they get enough communications relating to these issues they may eventually propose a change. Following is the text of my email for whatever it's worth: Subject: OTC:BB Regulations Sirs; I feel that the recent regulation changes regarding OTC:BB stocks should help improve the overall safety, value, and image of BB trading. However, there are two areas that I don't understand the rationale of at all! First, I do not understand AT ALL why unregistered shares may be sold into foreign accounts. If the idea is to provide accountability and control of company's shares how does allowing ANY unregistered sale accomplish this? I would propose that the statutes allowing this type of trade be removed from the securities laws. Second, OTC:BB stocks cannot be shorted from a U.S. account but can from a foreign account. I would propose changing the statutes relating to short sales be changed to allow U.S. investors parity with foreign investors; either allow or disallow short sales from ANY account. My preference would be to disallow short sales from any account -- this should reduce the amount of artificial volatility in quite a few share prices. Sincerely, Follow Ups: