Anything goes for the shorts? Fortunately FINRA do
Post# of 45510
Anything goes for the shorts? Fortunately FINRA doesn't believe that.
Read it and weep, assuming you want a level playing field. On the other hand, FINRA surveillance is nailing more perps.
FINRA Disciplinary Actions_Oct 2012.pdf (Partial list and, yes, microcaps included.)
Firm names withheld here only for sake of brevity.
... short interest position reports to FINRA that were incorrect and also failed to report short interest positions.
... failed to submit proprietary orders in non-market making securities to OATS, failed to submit the correct account type code “E” to OATS, and failed to submit the correct order receipt time to OATS.
... firm failed to close out fails to deliver resulting from sale transactions in its proprietary accounts ...
... fail-to-deliver positions at a registered clearing agency in equity securities that resulted from short sales and long sales, and did not close the fail-to-deliver positions by purchasing securities of like kind and quantity within the time frame SEC rules prescribed.
... fail-to-deliver positions at a registered clearing agency in threshold securities ...
FINRA Disciplinary Actions_Nov 2012.pdf (Whoooohoooo, go get 'em. All 54 pages.)
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