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Posted On: 07/23/2017 5:35:44 PM
Post# of 72445
Your source is a theory by an anonymous poster whereas my source is the SEC. If there's a loophole to report false failure-to-deliver numbers to the SEC, they would've known because naked shorting could bankrupt many small companies with promising technologies like IPIX.
In fact, the SEC released a memorandum on the Impact of Recent SHO Rule Changes on Fails to Deliver (April 25, 2011).
"Since the rule changes significantly shortened the window to close-out most fail to deliver positions and expanded the close-out provisions to all equity securities, we would expect to see a decline in average daily fails due to compliance with the new rules, all else equal."
"In summary, the results indicate that fails to deliver decreased significantly after the elimination of the OMM exception and the implementation of the T+3 Close-out Rule."
https://www.sec.gov/spotlight/shortsales/failsmemo042511.pdf
In fact, the SEC released a memorandum on the Impact of Recent SHO Rule Changes on Fails to Deliver (April 25, 2011).
"Since the rule changes significantly shortened the window to close-out most fail to deliver positions and expanded the close-out provisions to all equity securities, we would expect to see a decline in average daily fails due to compliance with the new rules, all else equal."
"In summary, the results indicate that fails to deliver decreased significantly after the elimination of the OMM exception and the implementation of the T+3 Close-out Rule."
https://www.sec.gov/spotlight/shortsales/failsmemo042511.pdf
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