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Regulators Blast Day Traders' Tactics: A Day Traders' Spokesman Says NASAA Report Is Ludicrous

Traders Magazine, August 1999

William Hoffman

In a public statement released just after the North American Securities Administrators Association published its bleak report on day trading, the Electronic Traders Association general counsel, Saul S. Cohen, sounded conciliatory.

"We appreciate the work NASAA has done," Cohen's statement for the industry's leading trade group said. "All day-trading firms can and must strive to improve their disclosure mechanisms and their ethical practices."

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