Movie on Wall Street Treason & Crime Updated 21 Feb

Notice

AN INVESTOR HAS OFFERED $100K toward a full-length professional movie with in person multi-crew interviews and maximum professional editing and narration. Seeking three more investors at $100K each, ideally individuals who want their own stories featured rooted in their experience with Wall Street treason, naked short selling, or money laundering and other forms of financial fraud. Anyone filing a mega-million lawsuit against Goldman Sachs, Merrill Lynch, JP Morgan, or Citadel is particularly well-qualified to be an executive producer of this new movie. Continue reading “Movie on Wall Street Treason & Crime Updated 21 Feb”

Notice: SEC Takes Steps to Curtail Abusive Short Sales and Increase Market Transparency

Notice

SEC Takes Steps to Curtail Abusive Short Sales and Increase Market Transparency

SEC, 27 July 2009

The Securities and Exchange Commission today announced several actions that would protect against abusive short sales and make more short sale information available to the public.

“Today’s actions demonstrate the Commission’s determination to address short selling abuses while at the same time increasing public disclosure of short selling activities that affect our markets,” said SEC Chairman Mary Schapiro.

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Notice: Public Statement by SEC Chairman Naked Short Selling Is One Problem a Slumping Market Shouldn’t Have

Notice

Public Statement by SEC Chairman:
Naked Short Selling Is One Problem a Slumping Market Shouldn’t Have

Chairman Christopher Cox

SEC.gov, 18 July 2008

The demise of IndyMac, coming on the heels of Bear Stearns’ desperate sale to JPMorgan Chase, is a sure sign of the fragility of today’s markets. What’s needed now, more than ever, is reliable information for investors and confidence that trading can be conducted without the illegal influence of manipulation.

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Rules: FINRA on Failure to Deliver

Notice
Failure to Deliver and Liability Notice Procedures
If a contract is for warrants, rights, convertible securities or other securities which (i) have been called for redemption; (ii) are due to expire by their terms; (iii) are the subject of a tender or exchange offer; or (iv) are subject to other expiring events such as a record date for the underlying security and the last day on which the securities must be delivered or surrendered (the expiration date) is the settlement date of the contract or later the receiving member may deliver a Liability Notice to the delivering member as an alternative to the close-out procedures set forth in paragraphs (a) through (g). When the parties to a contract are both participants in a registered clearing agency that has an automated service for notifying a failing party of the liability that will be attendant to a failure to deliver, the transmission of the liability notice must be accomplished through the use of said automated notification service. When the parties to a contract are not both participants in a registered clearing agency that has an automated service for notifying a failing party of the liability that will be attendant to a failure to deliver, [S]such [N]notice must be issued using written or comparable electronic media having immediate receipt capabilities no later than one business day prior to the latest time and the date of the offer or other event in order to obtain the protection provided by this Rule.

Notice: Speech by SEC Chairman Cox on Proposed Amendments to Regulation SHO

Notice

Speech by SEC Chairman Cox on Proposed Amendments to Regulation SHO

12 July 2006

The next item on our agenda is the serious problem of abusive naked short sales, which can be used as a tool to drive down a company’s stock price to the detriment of all of its investors. The Commission is particularly concerned about persistent failures to deliver in the market for some securities that may be due to loopholes in the Commission’s Regulation SHO, adopted just two years ago.

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Notice: The Depository Trust Company Rulemaking Order Granting Approval of a Proposed Rule Change Concerning Requests for Withdrawal of Certificates by Issuers

Notice

The Depository Trust Company Rulemaking Order Granting Approval of a Proposed Rule Change Concerning Requests for Withdrawal of Certificates by Issuers

Securities and Exchange Commission, 4 June 2003

On February 3, 2003, The Depository Trust Company filed with the Securities and Exchange Commission (“Commission”) and on February 11, 2003, amended proposed rule change SR-DTC-2003-02 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”).1 Notice of the proposal was published in the Federal Register on February 22, 2003.2 Eighty-nine comment letters were received.3 For the reasons discussed below, the Commission is granting approval of the proposed rule change.

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