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Posted on 07.10.09 by Thomas L. Knapp
“The U.S. Securities and Exchange Commission on Thursday issued its opinion that California’s IOUs should be treated as securities under federal securities law. Under that opinion, holders of the notes, which carry a 3.75 percent interest rate, are protected [sic] by securities laws that prevent [sic] fraud. And it means that people who attempt to make a market in buying and selling the notes may have to be registered as ‘brokers, dealers or municipal securities dealers, or as alternative trading systems or national securities exchanges.’” (07/09/09) Link: http://tinyurl.com/nl8u2t Filed under: RRND News | Report Bad Link Bookmark this post in Furl or Del.icio.us | |
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