(Total Views: 220)
Posted On: 05/23/2019 9:25:14 AM
Post# of 43066
speaking of the new MM on the PTOI block .. 
GTSM ( CANT )
Tuesday, March 5, 2019
FINRA Fines Cantor Fitzgerald $2 Million for Regulation SHO Violations and Supervisory Failures
Firm Required to Retain an Independent Consultant
http://www.finra.org/newsroom/2019/finra-fine...upervisory
how to *circumvent* ..
GTS Completes Buyout of Cantor’s ETF, Market Making Business
As part of the deal, approximately 30 Cantor Fitzgerald personnel will become employees at GTS.
Wednesday, 22/05/2019
https://www.financemagnates.com/institutional...-business/
some light reading for those inclined ..
Techniques Used to Circumvent Reg SHO
The SEC has limited enforcement ability and seems to be content to allow Wall Street and the DTCC to police themselves. This was made evident in one lawsuit that I read in which a household name Prime Broker was alleged to have committed numerous illegal actions. These are representative of techniques that are used routinely across Wall Street by almost all prime brokers. Examples are:
permitting important hedge fund clients to bypass the locate requirement when entering short sales,
creating and distributing easy to borrow lists that improperly included threshold and hard-to-borrow securities to the firm’s proprietary traders and clients
concealing FTDs through washed and matched trades, i.e. rolling over an FTD to another broker dealer
transacting illegal stock sales in dark pools off the primary markets to avoid NYSE oversight and to maintain anonymity
failing to reasonably supervise that locates were obtained and/or documented for short sales
falsely marking short sales as long on order tickets to conceal naked short positions,
falsely representing that they either possessed the borrowed securities or had located them for borrowing and delivery.
failing to make legitimate or reasonable efforts to locate shares prior to short selling,
entering into fictitious option contract to conceal naked short sales;
using the DTCC stock borrowing program as a means to conceal naked short sales,
submitting fake short interest and other reports to regulators;
concealing their activity through falsely reporting shares created through illegal naked shorting as shares in brokerage statements of investors as if these assets were representative of real shares
concealing their activity by issuing voting material to shareholders with nonexistent assets who have no corporate rights including the right to vote shares,
failing to comply with responsibilities and duties to investigate and report suspicious transactions to regulatory authorities
the above courtesy of ..
https://smithonstocks.com/part-6-illegal-nake...effective/
4kids
GTSM ( CANT )
Tuesday, March 5, 2019
FINRA Fines Cantor Fitzgerald $2 Million for Regulation SHO Violations and Supervisory Failures
Firm Required to Retain an Independent Consultant
http://www.finra.org/newsroom/2019/finra-fine...upervisory
how to *circumvent* ..
GTS Completes Buyout of Cantor’s ETF, Market Making Business
As part of the deal, approximately 30 Cantor Fitzgerald personnel will become employees at GTS.
Wednesday, 22/05/2019
https://www.financemagnates.com/institutional...-business/
some light reading for those inclined ..
Techniques Used to Circumvent Reg SHO
The SEC has limited enforcement ability and seems to be content to allow Wall Street and the DTCC to police themselves. This was made evident in one lawsuit that I read in which a household name Prime Broker was alleged to have committed numerous illegal actions. These are representative of techniques that are used routinely across Wall Street by almost all prime brokers. Examples are:
permitting important hedge fund clients to bypass the locate requirement when entering short sales,
creating and distributing easy to borrow lists that improperly included threshold and hard-to-borrow securities to the firm’s proprietary traders and clients
concealing FTDs through washed and matched trades, i.e. rolling over an FTD to another broker dealer
transacting illegal stock sales in dark pools off the primary markets to avoid NYSE oversight and to maintain anonymity
failing to reasonably supervise that locates were obtained and/or documented for short sales
falsely marking short sales as long on order tickets to conceal naked short positions,
falsely representing that they either possessed the borrowed securities or had located them for borrowing and delivery.
failing to make legitimate or reasonable efforts to locate shares prior to short selling,
entering into fictitious option contract to conceal naked short sales;
using the DTCC stock borrowing program as a means to conceal naked short sales,
submitting fake short interest and other reports to regulators;
concealing their activity through falsely reporting shares created through illegal naked shorting as shares in brokerage statements of investors as if these assets were representative of real shares
concealing their activity by issuing voting material to shareholders with nonexistent assets who have no corporate rights including the right to vote shares,
failing to comply with responsibilities and duties to investigate and report suspicious transactions to regulatory authorities
the above courtesy of ..
https://smithonstocks.com/part-6-illegal-nake...effective/
4kids
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