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Is This The End Of Naked Short Selling?
Posted on 10/17/23 at 6:37 am
Posted on 10/17/23 at 6:37 am
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.
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.
Posted on 10/17/23 at 7:04 am to GhostOfFreedom
quote:
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.
Agreed, but it’s not the enemy that retail thinks it is. Poorly run companies are a far bigger destructor of wealth.
Posted on 10/17/23 at 7:20 am to GhostOfFreedom
You realize this is all smoke and mirrors right? What looks on the surface to be good for retail is bad. It further consolidates power to the market makers. Naked short selling isn’t a thing that people think it is. Most people when asked on the spot don’t even know how to trade a “synthetic short”. Market makers and underwriters are to blame. They create these liquidity events in order to pass the hot potato to retail and then point the finger elsewhere.
Posted on 10/17/23 at 9:54 am to GhostOfFreedom
quote:
Is This The End Of Naked Short Selling?
Naked short selling of stocks in the U.S. has been illegal since soon after the 2008/2009 financial crisis.
Posted on 10/17/23 at 1:55 pm to LSURussian
Literally no one is "naked short selling"
This is the funniest thing to come out of the GME bubble era, this narrative
This is the funniest thing to come out of the GME bubble era, this narrative
Posted on 10/17/23 at 2:42 pm to Texas Tea 123
Hedgies and HFTs
This post was edited on 10/17/23 at 2:43 pm
Posted on 10/17/23 at 10:21 pm to Texas Tea 123
quote:
Literally no one is "naked short selling"
This is the funniest thing to come out of the GME bubble era, this narrative
Rehypothecation.
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