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Why doesn't Canada have pure pump and dumps?


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This is something that I'm curious about.


The US has many pump and dump stocks that have no real business attached to them.  In Canada, our pump and dumps are usually attached to some junior exploration company.  There is a part of them that is an actual business.  Why is that?  Is there something about the US legal system or the SEC that allows the pure pump and dumps to proliferate?

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