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Microcap & Penny Stocks : Amazon Natural (AZNT) -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (6364)	9/19/1998 1:57:00 PM
From: zonkie	Read Replies (1) \| Respond to of 26163

TESTIMONY OF ARTHUR LEVITT, CHAIRMAN U.S. SECURITIES AND EXCHANGE COMMISSION CONCERNING FRAUD IN THE "MICRO CAP" MARKET BEFORE THE PERMANENT SUBCOMMITTEE.. sec.gov >>> As noted above, Rule 15c2-11 is intended to prevent the publication of stock quotations in the OTC Bulletin Board, the Pink Sheets and similar media that may be used in fraudulent schemes. Before publishing the initial quotation for a particular stock, or after a trading halt, brokers must review such information as the issuer's most recent balance sheet, profit and loss, and retained earnings statements; the nature of the issuer's business; the nature of the products or services offered; the nature and extent of the issuer's facilities; and any relationship between the broker-dealer and company insiders. As a result of the recent rise in micro cap fraud, the Commission's staff is studying how to amend the rule; these amendments might take the form of requiring market makers to review additional financial information about the issuer or obtain updated information more regularly. <<< A lot of interesting things in this report, I just pasted one little part of it. zonkie....