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Other proposals, which would have to be executed on a national basis, are also worthy of consideration. Some examples include, but are not limited to: promulgation of rules to prevent gross undercapitalization of firms with respect to pending customer liabilities(197); extending the special penny-stock disclosure rules to apply to all new accounts at firms primarily engaged in non-listed business -- thereby ending the practice by which brokers evade such disclosure by making an initial recommendation of a listed security; requiring that all cold callers be registered; requiring that new account forms be signed by the investor prior to the initial transaction; commencing more multi-state and multi-agency investigations and prosecutions; and developing a coordinated, national investor education program.
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