[ppml] Markets, pricing, transparency, 2008-2 / 8.3.9

[michael.dillon at bt.com]

> > Can you clarify how you'd propose to enforce transparency, and what 
> > impact you think such enforcement would have?

I think that the SEC's Fair Disclosure rules apply here, and these
are ultimately enforced by the SEC. This means that if the two parties
to a transaction collude to misreport the final price paid, then the
principals of those two organizations can be charged with securities
fraud and go to jail. ARIN is not the enforcer here.

How many of you have spent some time at http://www.sec.gov reading about
how properly run listing services operate?

--Michael Dillon