Category: Publications

Posted on

Article: Major Banks Suspected of Collusion in Bond-Rigging Probe

Article - Media, Publications

Major Banks Suspected of Collusion in Bond-Rigging Probe

Patricia Kowsmann and Margot Patrick, 20 December 2018

The European Commission suspects Deutsche Bank AG , Credit Suisse Group AG, Crédit Agricole SA and another global bank of colluding to manipulate a multi-trillion-dollar government-backed bond market, escalating a long running probe.

The European Union’s executive arm, which opened the investigation almost three years ago, said in a statement Thursday that banks will now lay out their defenses. If found guilty, they could face a fine of up to 10% of their annual world-wide revenue. Continue reading “Article: Major Banks Suspected of Collusion in Bond-Rigging Probe”

Posted on

Article: Citron Says the “Bidding Is On” for This Cannabis Company

Article - Media, Publications

Citron Says the “Bidding Is On” for This Cannabis Company

DANIEL LIBERTO, 19 December 2018

Famous short seller Andrew Left has high hopes for Aphria Inc. (APHA). In a research note, Left’s firm Citron Research claimed that the heavily shorted marijuana stock could hit $8 within the next two weeks because it has emerged as a prime acquisition target for either a major consumer packaged goods company or another marijuana producer.

“Expect an $APHA major partnership or total buyout SOON,” Citron tweeted on Tuesday after publishing its report. Citron’s bullish note, on top of news that Aphria expanded on an existing licensing agreement with Rapid Dose Therapeutics to offer its QuickStrip oral drug delivery system to customers in fast-growing marijuana market Germany, lifted the Canadian company’s shares 7.79% during Tuesday’s trading session.
Continue reading “Article: Citron Says the “Bidding Is On” for This Cannabis Company”

Posted on

Article: UBS Fined $15 Million Over Anti-Money-Laundering Systems

Article - Media, Publications

UBS Fined $15 Million Over Anti-Money-Laundering Systems

Maria Armental and Samuel Rubenfeld, 17 December, 2018

UBS Group AG agreed to pay a combined $15 million fine over regulatory deficiencies in its anti-money-laundering program, U.S. regulators said Monday.

The U.S. Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, said broker-dealer unit UBS Financial Services Inc. violated the Bank Secrecy Act, which requires financial firms to report suspicious activities, over a roughly 13-year period through 2017. Continue reading “Article: UBS Fined $15 Million Over Anti-Money-Laundering Systems”

Posted on

Article: State Street CEO Hooley to retire at end of 2018

Article - Media, Publications

State Street CEO Hooley to retire at end of 2018

Michael Dabaie, 14 December 2018

State Street said on Friday that Joseph L. Hooley will retire as chief executive on December 31. In late 2017, State Street said Ronald P. O’Hanley would succeed Hooley as CEO. O’Hanley, who has been State Street’s president and chief operating officer since November 2017, will start his new role on January 1. Continue reading “Article: State Street CEO Hooley to retire at end of 2018”

Posted on

Article: Wall Street Allows Giants Like Morgan Stanley Special Trading Hours

Article - Media

Wall Street Allows Giants Like Morgan Stanley Special Trading Hours

C. Edward Kelso

CoinSpice, 11 December 2018

“At the New York Stock Exchange, some traders are more equal than others,” Post reporter Kevin Dugan began. “That’s the bitter takeaway from stock brokers, who say the Big Board, in an unusual move last week, gave special treatment to a broker at Morgan Stanley who asked to trade large blocks of stocks for several minutes after the markets closed.”

Read full article.

Posted on

Article: Munich prosecutors seek fine against publisher of Zatarra report

Article - Media

Munich prosecutors seek fine against publisher of Zatarra report

Reuters, 10 December 2018

MUNICH, Dec 10 (Reuters) – Munich prosecutors have issued a penalty order seeking to fine British short seller Fraser Perring for suspected manipulation of German payment processor Wirecard AG’s share price, a spokeswoman for the prosecution said on Monday.

Comment: Fraser Perring operates Viceroy Research.

 

Posted on

Article: Soros family office fined for naked short selling

Article - Media

Soros family office fined for naked short selling

Bloomberg via India Times, 7 December 2018

Hong Kong: Soros Fund Management, the about $25 billion family office of billionaire George Soros, was fined by Hong Kong’s securities regulator for naked short selling. The company’s Hong Kong unit was reprimanded and fined HK$1.5 million ($192,000) for a 2015 trade involving a bonus share issue of Great Wall Motor, the city’s Securities and Futures Commission said in a statementon Thursday.

Posted on

Article: More smoking guns will be revealed about Aphria, says short-seller

Article - Media, Publications

More smoking guns will be revealed about Aphria, says short-seller

Jayson MacLean, 06 December 2018

Recently emerged fraud allegations concerning marijuana company Aphria Inc (Aphria Stock Quote, Chart TSX, NYSE: APHA) may have already trashed the stock, but the worst could still be forthcoming, says short-seller Gabriel Grego, who claims there’s likely a lot more damning evidence to be revealed in the company’s documents.

A report released on Monday and co-authored by Hindenburg Research and Grego’s Quintessential Capital Management alleges that Aphria paid “vastly inflated” prices for essentially worthless assets in Latin America, in particular the $193-million purchase of LATAM Holdings, a subsidiary of Scythian Biosciences which has assets in Jamaica, Colombia and Argentina.
Continue reading “Article: More smoking guns will be revealed about Aphria, says short-seller”

Posted on

Article: Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging

Article - Media, Publications

Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging

Lisa Bernard-Kuhn and Matt Lamers, 06 December 2018

The blows to Aphria’s stock continued Wednesday as the Canadian cannabis giant’s share price tumbled in the wake of a scathing short-seller report. Aphria’s stock (Nasdaq: APHA) closed Wednesday at $4.51 – down more than 25% for the day. The company has been on the defensive since Monday, refuting claims lobbed by short sellers Quintessential Capital Management and Hindenburg Research that Aphria’s management is a part of a shell game controlled by insiders raiding company coffers to line their own pockets. Aphria, in a statement issued Monday, called the allegations “malicious.”
Continue reading “Article: Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging”

Posted on

Article: The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)

Article - Media, Publications

The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)

Ethel Jiang, 03 December 2018

The marijuana producer Aphria slumped as much as 30% — to a low of $5.60 a share — after a firm alleged the company’s business was full of overvalued buyouts and fraudulent financial reporting.
“Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets,” short seller Quintessential Capital Management’s Hindenburg Research said Monday morning in a report titled “Aphria: a shell game with a cannabis business on the side.”
Continue reading “Article: The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)”

Posted on

Article: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages ACM Research (ACMR) Investors with Losses to Contact Its Attorneys, Securities Fraud Case Filed

Article - Media, Publications

The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)

Ethel Jiang, 03 December 2018

The marijuana producer Aphria slumped as much as 30% — to a low of $5.60 a share — after a firm alleged the company’s business was full of overvalued buyouts and fraudulent financial reporting. “Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets,” short seller Quintessential Capital Management’s Hindenburg Research said Monday morning in a report titled “Aphria: a shell game with a cannabis business on the side.” Aphria responded Monday afternoon in a press release, referring Hindenburg Research’s report as “a malicious and self-serving attempt to profit by manipulating Aphria’s stock price at the expense of Aphria’s shareholders.”
Continue reading “Article: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages ACM Research (ACMR) Investors with Losses to Contact Its Attorneys, Securities Fraud Case Filed”

Posted on

Article: Goldman Sachs Fined 7.5 Bil. Won for Naked Short Selling of Stocks in S. Korea

Article - Media, Publications

Goldman Sachs Fined 7.5 Bil. Won for Naked Short Selling of Stocks in S. Korea

Yoon Young-sil, 29 November 2018

South Korea’s financial authorities have imposed the biggest ever fine on Goldman Sachs Group for its naked short selling activities.

The Securities & Futures Commission (SFC), an investigative body of the Financial Services Commission (FSC), decided on Nov. 28 to impose a 7.5 billion won ($6.65 million) in fine on Goldman Sachs Group’s subsidiary Goldman Sachs International for violating the short selling rules. Continue reading “Article: Goldman Sachs Fined 7.5 Bil. Won for Naked Short Selling of Stocks in S. Korea”

Posted on

Article: Goldman Sachs hit with £5.2m fine for short selling

Article - Media, Publications

Goldman Sachs hit with £5.2m fine for short selling

James Booth, 28 November 2018

South Korea’s financial regulator has hit Goldman Sachs with a 7.5bn won (£5.2m) fine for breaking rules on short-selling.

The fine is for short-selling without securing underlying assets, the Financial Services Commission (FSC) said in a statement. Continue reading “Article: Goldman Sachs hit with £5.2m fine for short selling”

Posted on

Article: (LEAD) Goldman Sachs fined 7.5 bln won for illegal naked short selling in S. Korea

Article - Media, Publications

(LEAD) Goldman Sachs fined 7.5 bln won for illegal naked short selling in S. Korea

Yonhap News Agency, 28 November 2018

South Korea’s financial regulator said Wednesday it decided to fine the Seoul branch of Goldman Sachs Group Inc. 7.5 million won (US$6.66 million) for carrying out naked short selling, which is illegal here.

It marked the largest fine against a financial institution for violating the rules that ban such short selling in South Korea.

Market watchers had expected the Financial Services Commission (FSC) to slap a fine of up to 1 billion won against Goldman Sachs for naked short selling, which was carried out in late May. Continue reading “Article: (LEAD) Goldman Sachs fined 7.5 bln won for illegal naked short selling in S. Korea”

Posted on

Article: S.Korea’s regulator fines Goldman Sachs 6.7 mln USD for naked short selling

Article - Media, Publications

S.Korea’s regulator fines Goldman Sachs 6.7 mln USD for naked short selling

Shi Yinglun, 28 November 2018

South Korea’s financial regulator said Wednesday that it fined the Seoul branch of U.S.-based Goldman Sachs Group 7.5 billion won (6.7 million U.S. dollars) for the naked short selling that is illegal in the country.

The Financial Services Commission (FSC) said the fine was imposed as the U.S.-based investment bank violated the local rules that ban financial institutions from making a sell order without borrowed stocks.

Short selling, which is legal here, refers to the sale of borrowed stocks on expectations for a price fall. The borrowers are required to return back the borrowed stocks by buying back the stocks when the price falls, making a profit of the price gap. Continue reading “Article: S.Korea’s regulator fines Goldman Sachs 6.7 mln USD for naked short selling”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?