SEC Charges Investment Adviser and Associated Individuals with Causing Violations of Regulation SHO
Washington D.C., Aug. 17, 2021
The Securities and Exchange Commission today announced settled charges against Murchinson Ltd.; its principal, Marc Bistricer; and its trader, Paul Zogala (the respondents), for providing erroneous order-marking information that caused executing brokers to violate Regulation SHO. In addition, Murchinson and Bistricer settled charges for causing a dealer to fail to register with the SEC.
According to the SEC’s order, from June 2016 through October 2017, the respondents provided erroneous order-marking information on hundreds of sale orders of their hedge fund client to the hedge fund’s brokers, causing those brokers to mismark the hedge funds’ sales as “long.” The order finds that in providing the inaccurate information, the respondents also caused the hedge fund’s brokers to fail to borrow or locate shares prior to executing the sales.
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