Is This The End Of Naked Short Selling?

Is This The End Of Naked Short Selling?

https://oilprice.com/Energy/Energy-General/Is-This-The-End-Of-Naked-Short-Selling.html


Is This The End Of Naked Short Selling?
By James Stafford - Oct 16, 2023, 6:01 PM CDT
Wall st

American investors have been taken for a trillion-dollar ride by naked short sellers, in what could turn out to be the biggest financial regulatory scandal in North American history.

While what is now an all-out war on naked short sellers intensifies, there is a new flashpoint on the front line–a potentially devastating ruling targeting those who are alleged to make illegal naked short selling possible: The Facilitators: bankers and brokers.
On September 29, Federal District Court Judge Lorna Schofield of the Southern District of New York issued a ruling that has the potential to significantly disrupt Wall Street compliance, and is a major first step towards protecting retail investors from fraud.

In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, Judge Schofield found that broker-dealers may be primarily liable for manipulative trading initiated by their customers because they serve as “gate-keepers” of trading on securities exchanges. (excerpt...)

Interesting read. Counterfeit/Synthetic/Naked Shorting of shares should never have been allowed... well, it isn't, but it has been. It is securities fraud and must be corrected.