SEC Stamps Out Stock Spam

The SEC’s enforcement efforts continue to evolve as technology moves forward, as witnessed by the recent crackdown on stock promoters utilizing Youtube shows:

The Securities and Exchange Commission today continued its highly successful pursuit against stock market e-mail spam by suspending trading in the securities of three companies that haven’t adequately disclosed information to investors and have been the subject of spam e-mail campaigns and promotional videos on the Internet site YouTube. The videos often repeat information in the companies’ press releases and are posted to coincide with traditional spam e-mail campaigns.

The Commission issued an Order finding that each of the companies subject to today’s trading suspension — NeoTactix Corporation (NTCX), Graystone Park Enterprises, Inc. (GPKE), and Younger America, Inc. (YNGR) — has inadequately disclosed its assets, business operations, and current financial condition. SEC

The commission deserves Kudos for cutting down on the stock spam floating about the internet, which is off significantly from two years ago:

Now, if they can shut down the Nigerian spammers I will really be impressed.

One of the casualties of the latest action is a one-time Apprentice from Trump’s show, Jenn Hoffman, who might be a bit more careful in picking her future projects.

SEC Suspends Trading in Three Companies Promoted Through Spam and Internet Videos
SEC.gov

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