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Microcap & Penny Stocks : Scambusters -- Ignore unavailable to you. Want to Upgrade?

To: Arcane Lore who wrote (173)	1/7/1999 9:00:00 PM
From: Arcane Lore	Read Replies (1) \| Respond to of 178

SEC Targets Bulletin Board Fraud In a move to combat fraud in thinly traded small stocks, the Securities and Exchange Commission approved a rule Wednesday that could force as many as 3,250 stocks--including hundreds in California--to be thrown off the electronic Bulletin Board market. ... Only half of the companies currently submit such reports. Delisted stocks would be pushed to the so-called Pink Sheets, a paper-based quotation system that has long been the domain of the most illiquid and speculative stocks. ... The SEC is still reviewing two companion NASD proposals. They would require brokerages to analyze a company's financial statements before recommending its stock, and to disclose to customers the difference between stocks trading on Nasdaq or an exchange and those that don't qualify. latimes.com