Article: Whisleblower Vindicated Massive Trading Firm Knight Capital Charged With Abusing “Naked Shorts”

Article - Media
12875

Whisleblower Vindicated: Massive Trading Firm Knight Capital Charged With Abusing “Naked Shorts”

David Dayen

The Intercept, 15 December 2016

Back in September, I wrote a seven-part series at The Intercept chronicling how former Wall Street trader Chris DiIorio, determined to figure out how he lost a small fortune on a penny stock, came to the conclusion that gigantic market-making firm Knight Capital, now known as KCG, repeatedly violated federal regulations meant to prevent abuse in what are known as “naked short sales.”

Read full article.

12875