Here is an interesting post taken from the KBIO bo
Post# of 4611
Posted On: 11/29/2015 9:57:26 AM
Here is an interesting post taken from the KBIO board as a reply to Janice Shell
by WarChest :
here is one ~ that does exist to JUNE 2, 2015
Merrill Lynch to Settle Short-Selling Case for $11M, Admits to Wrongdoing
The SEC said that Merrill Lynch (MER) would pay $11 million to resolve allegations of short-selling-related noncompliance. The regulator said that the wirehouse executed short sales in certain securities when the supply for this type of transaction was restricted.
Customers frequently ask brokerage firms to “locate” stock that can be used for short selling. The financial firms generate easy-to-borrow lists made up of the stock they believe is accessible for such locates. However, contends the SEC, from January 2008 through January 2014 Merrill used information that was dated to create these ETB lists.
For example, there were times when certain securities that were placed on the ETB list in the morning were no longer as easily available for borrowing later in the trading day. Yet Merrill’s platforms were set up so that they continued to process short sale orders according to the now-dated list—even as firm personnel appropriately stopped using the list for sourcing locates when certain shares’ availability had become restricted.
http://www.institutionalinvestorsecuritiesblo....html#more
To settle the SEC's charges, Merrill has agreed to pay a $10 million penalty and ... which has been fined multiple times for illegal naked short selling violations, and ... the same illegal practices, and now faces lawsuits by its victimized companies. ... to Jamil Nazarali, head of electronic trading for Knight Capital Group Inc. .
http://realshortdata.com/remember-me/gaming-o...ar-stocks/
Read More: http://investorshangout.com/post/view?id=3374...z3stPJxGug
by WarChest :
here is one ~ that does exist to JUNE 2, 2015
Merrill Lynch to Settle Short-Selling Case for $11M, Admits to Wrongdoing
The SEC said that Merrill Lynch (MER) would pay $11 million to resolve allegations of short-selling-related noncompliance. The regulator said that the wirehouse executed short sales in certain securities when the supply for this type of transaction was restricted.
Customers frequently ask brokerage firms to “locate” stock that can be used for short selling. The financial firms generate easy-to-borrow lists made up of the stock they believe is accessible for such locates. However, contends the SEC, from January 2008 through January 2014 Merrill used information that was dated to create these ETB lists.
For example, there were times when certain securities that were placed on the ETB list in the morning were no longer as easily available for borrowing later in the trading day. Yet Merrill’s platforms were set up so that they continued to process short sale orders according to the now-dated list—even as firm personnel appropriately stopped using the list for sourcing locates when certain shares’ availability had become restricted.
http://www.institutionalinvestorsecuritiesblo....html#more
To settle the SEC's charges, Merrill has agreed to pay a $10 million penalty and ... which has been fined multiple times for illegal naked short selling violations, and ... the same illegal practices, and now faces lawsuits by its victimized companies. ... to Jamil Nazarali, head of electronic trading for Knight Capital Group Inc. .
http://realshortdata.com/remember-me/gaming-o...ar-stocks/
Read More: http://investorshangout.com/post/view?id=3374...z3stPJxGug
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