Response from TSX Regulation ServicesDear Mr. xxxx
Thank you for your email to the TSX Venture Exchange regarding unusual trading in Prospector Consolidated Resources Inc. (PRR), which was forwarded to us for review and response.
I have forwarded your concern to the Trading Review and Analysis department and one of the RS Investigative Trading Analysts for the TSX Venture Exchange is reviewing your concern. Due to Market Regulation Services Inc.'s ("RS") confidentiality policy you will not hear anything further from us on this matter. Please be assured that we take every concern that we receive very seriously and, if necessary, appropriate action will be taken.
For your information, RS exists to develop, administer, surveil and enforce trading rules through the Universal Market Integrity Rules ("UMIR"), in the Canadian securities market. You may find out more about UMIR by clicking on this link:
https://www.rs.ca/en/mktpol/umir.asp?printVersion=no&loc1=mktPol&loc2=umir , or by visiting our website at www.rs.ca, then selecting "Market Policy" from the menu options at the top. "UMIR" is the first link shown in the first paragraph.
Regards,
Olga Wallington
Corporate Compliance Officer
Market Regulation Services Inc.
416-646-7299 (phone)
416-646-7265 (fax)
inquiries@rs.ca (email)
www.rs.ca
If there are any problems with the trading in PRR prior to the release, the powers that be will get to the bottom of it. I've done my part.
Letter to the TSX Regulation Services Department:
To whom it may concern:
I have a question for you.
If atypical Massive selling ensues before negative drill results come out, would this be considered to be illegal trading activity? I would like to draw your attention to PRR Prospector Consolidated Resources Inc. on the TSX. MASSIVE block selling took place in the immediate days before the press release which came out today and indicated that nothing was found in the four holes that they were drilling. I would like to know how the people selling knew that the four holes contained nothing and would like to see measures undertaken by the TSX to punish those responsible and also to prevent this kind of trading from happening again.
It's this exact kind of thing that gives the TSX a VERY bad name. Those in the know get out while they can leaving the little investor holding the bag. This will just continue to get worse if nothing is done about this.
Please let me know your thoughts and comments on this matter.
Regards,
XXXX