NYSE ARCA rejects all SELL SHORT EXEMPT orders

[jcline]

I just received this in an email........

Effective Friday, October 5, 2007, NYSE Arca will reject all Sell Short Exempt (SSE) Orders in accordance with the Securities and Exchange Commission (SEC) mandate.

This action is designed to address the issues surrounding "naked" short selling.

Please contact your NYSE Relationship Representative or the NYSE Arca Trade Support Desk at 888.513.9873, if you have any additional questions.


***Edit... this email was sent to all members who have their systems.

[sandi66]

www.nysedata.com/nysedata/InformationProducts/Equities/DelayedHistoricalData/NYSEShortInterest/tabid/197/Default.aspx NYSE Short Interest - May be something to watch

Can you sing, More More More! How da ya like it?? lol

Sandi

[sandi66]

Above link too long... use tinyurl.com/235rgc

Thanks tramp!

[lynn64]

www.redi.com/forms/SSEmemo.pdf

[lynn64]

sec.gov/rules/final/2007/34-55970.pdf

SEC's FINAL RULE

[jcline]

Just isn't looking too good for options exemptions either....

tsk tsk........ ohh but that 's right... these same regulators said NSS does not exist......it's illegal..... it's not a real problem... only 6B a day... no big deal......right?

Here is a thought..........

Abolish the SEC!

Hold everyone and anyone accountable who took part in this massive fraud and coverup!

Bring them all to justice........ before a jury!

Incarcerate .... massive fines..........and as I stated years ago..... make it so financially impossible for them to commit these egregious acts...that they are run out of business even trying to attempt it!

Bring on the indictments!

[jcline]

I just LOVE this movie... wonder if it will get an Emmy ?


www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vIrfhgQPAJ1s.asf

[jcline]

How big is the delivery failure problem? Try $67+ billion as of Q1, 2007, for just NYSE member firms - and that is at today's mark to market value, not the price at which the sales were made - likely 5-10X or more higher. See the totals for yourself in the Securities Industry Association's own summary of NYSE member firm financial performance, and contrast that to the DTCC/SEC's $6 billion fairy tale. Lines 69 and 103.

www.sifma.org/research/statistics/other/NYSEFirmsTotals.xls

[jcline]

Starting in 1999 the SEC audited the Boston Stock Exchange surveillance systems and highlighted the flaw in detecting the abusive trading practices of the specialist. (gasp..... abusive trading practices! tsk tsk )

Based on that audit the SEC Commission staff issued a memo to the Boston Stock Exchange and Crofwell directing him to “immediately develop trading ahead surveillance procedures.” Crofwell responded to the directive in writing stating that the BSE would work to implement a same-day review of trading ahead activity by the target date of June 30, 1999 and would keep the staff informed of progress.



“Keep the staff informed of progress.” This is the Commission staff we are talking about here.



According to the SEC documents the June 30, 1999 target was not only missed but the effort was not completed for nearly five years later. So where was this staff who was to be kept informed and who was responsible for taking appropriate steps when such deadlines simply came and went without completion?


Between 1999 and 2004, representing more than 1,250 trading days, the SEC contends that hundreds to thousands of trades were being executed illegally daily. Each trade executed to the advantage of the specialist over their clients.


Boston Stock Exchange was just sold to Nasdaq in a $61m agreement ..Dubai is in here somewhere isn't it?? Where is LSE?? Anyone know??

www.boston.com/business/markets/articles/2007/10/03/lack_of_volume_brings_end_to_financial_chapter/

Who will keep "the Staff" informed now? I think I hear hens clucking ! Anyone seen the FOX?

SEC Spokesman John Heine was non responsive to questions regarding the Commissions role in the longstanding allowance of fraud. David Bergers, Regional Director of the Boston Office responsible for this case did not return a call for comment.

WE THE PEOPLE!
www.investigatetheSEC.com

[jcline]

Medis Technologies Requests Information from SEC and DTC
Oct 8, 2007 7:30:00 AM
Copyright Business Wire 2007
NEW YORK--(BUSINESS WIRE)--

Medis Technologies Ltd. (NASDAQ:MDTL) ("Medis") announced today that its
counsel has submitted a letter to the United States Securities and Exchange
Commission requesting under the Freedom of Information Act that the
Commission provide Medis with the most current delivery failure data
reported by banks and brokerage firms, including but not limited to short
sales and open settlements, relating to Medis' common stock.

Medis' counsel today also submitted a letter to the Depository Trust Company
requesting that the DTC perform an accounting regarding the number of shares
of Medis common stock held in its custody, to determine whether its records

reflect the correct number of shares outstanding.

Upon receipt of information from the SEC and DTC regarding short sales, open
settlements, and the number of shares in custody, Medis will review the data
in order to resolve errors in its share count, if any, and intends promptly
to take any and all action it deems appropriate to address failures of
market participants to cover short sales as required by the federal
securities laws.
Medis Technologies' primary focus is on direct liquid fuel cell technology.
Its business strategy is to sell its products to end users through retail
outlets, service providers and to the military and other markets. Medis has
also developed the CellScan with many potential applications relating to
disease diagnostics and chemo sensitivity. Additionally, Medis' product
pipeline includes other technologies, in varying stages of development.

This press release may contain forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. In some cases you can identify those so-called "forward
looking statements" by words such as "may," "will," "should," "expects,"
plans," "targets," "believes," "anticipates," "estimates," "predicts,"
"potential," or "continue" or the negative of those words and other
comparable words. These forward looking statements are subject to risks and
uncertainties, product tests, commercialization risks, availability of
financing and results of financing efforts that could cause actual results
to differ materially from historical results or those anticipated. Further
information regarding these and other risks is described from time to time
in the Company's filings with the SEC. We assume no obligation to update or
alter our forward-looking statements made in this release or in any periodic
report filed by us under the Securities Exchange Act of 1934 or any other
document, whether as a result of new information, future events or
otherwise, except as otherwise required by applicable federal securities
laws.

This press release is available on Medis' web site at
www.medistechnologies.com.

Source: Medis Technologies Ltd.

[jcline]

Rule 610- 611 Reg NMS:

www.law.uc.edu/CCL/regNMS/rule610.html

www.law.uc.edu/CCL/regNMS/rule611.html

[jcline]

From the JAGH board:

By: rezurch
10 Oct 2007, 01:24 PM EDT
Msg. 89313 of 89317
(This msg. is a reply to 89311 by braggamuffin.)
Jump to msg. #
The elimination of the grandfather clause in Reg SHO almost 3 full years after the law was enacted...begs the question....why was it ever there in the first place? Clearly, there is a problem with fails. There are far too many academic studies by Lesli Boni and others that underscore this. Wall St. is underwater in scandal.

Milberg Weiss
Stocks being sold short without locate
The Eagletech discovery - (it doesn't get more d**ning than this)
OSTK v. Gradient Rocker moves to discovery
OSTK v. primes

The fails problem is there. How big? We ARE going to find out, it's just a matter of when.

R

[jcline]

WTG Scott... get those crooks... ohh but just fine them... and back to business as usual, right? How bout censure... how bout pulling their licenses? How bout making it impossible for them to do business for a month or two... I mean....how many months did those people suffer for the fraud committed against them Scott? Brag on! Until you all make the RIGHT moves... these are still just acts to placate those in the public.



Hedge Fund to Pay $8.2 Million In SEC Short-Sale Settlement
Bloomberg News
Thursday, October 11, 2007; Page D02


Sandell Asset Management and its founder are to pay $8.2 million to settle claims that the hedge-fund firm improperly sold a New Orleans bank's shares short after Hurricane Katrina.

The New York company, which manages about $7 billion, sold Hibernia shares it did not hold in 2005 as it sought to offset losses from an expected drop in the stock price, the Securities and Exchange Commission said yesterday. The practice is known as naked short selling.


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"Sandell Asset Management gained an unfair trading advantage over other market participants" by breaking rules to make the sales, said Scott W. Friestad, an SEC official.

In a short sale, a trader normally borrows shares and sells them, aiming to profit by repurchasing them after the price falls. In naked shorting, the trader sells stock without borrowing the shares. The practice can drive down a stock's price, hurting investor confidence and a company's ability to attract capital, SEC Chairman Christopher Cox has said.

Sandell agreed to forfeit $6.7 million in proceeds from the trades, plus interest, and pay a $650,000 fine. Founder Thomas E. Sandell, a former senior managing director at Bear Stearns, is to pay a $100,000 fine. The SEC also fined two Sandell employees $90,000. Neither the company nor its employees admitted wrongdoing.

Sandell wagered that Hibernia's stock would rise after Capital One Financial made a $5.35 billion bid for the bank in March 2005. After Hurricane Katrina struck that August, Sandell's employees speculated that the takeover would be postponed and Capital One would reduce its offer, the SEC said. To offset anticipated losses, they sought to borrow shares for short sales.

Finding too few shares available, the SEC said, the firm sold shares it didn't borrow and also mislabeled some trades as "long" in brokerage records to circumvent restrictions on short sales.

Capital One completed its acquisition of Hibernia in November 2005 after lowering its bid.


www.washingtonpost.com/wp-dyn/content/article/2007/10/10/AR2007101002275.html