January 3, 2007
Gentlemen,
1) I did NOT know that Congress authorized the SEC to legislate COUNTERFEITTING of securities. (a felony)
2) The SEC implemented this illegal grandfather clause under the SHO’s ‘mandatory closeout’ regulation.
3) This regulation inadvertently permits Income Tax Evasion, another felony. The IRS would like to know of this.
The Regulation is: 17 CFR 203(b)(3)(i), however, that is a sub reg of 203(b)(3)(i) the ‘Mandatory Close Out’ in Regulation SHO