Stop the Naked Short Selling of America
Short-sellers need more transparency, says former SEC commissioner
Ben Ashwell, Corporate Secretary, 26 June 2020
Former SEC commissioner Robert Jackson says he is troubled by the ‘increasing evidence of manipulation through short-selling’, and calls on his former colleagues at the SEC to consider a proposal for greater transparency for short-sellers.
BitChute Copy Below the Fold
It’s a perfect storm of stupid in the stock market right now
Linette Lopez
Business Insider, 21 May 2020
Close to 800,000 people have created new brokerage accounts on 3 out of 4 of America’s top brokerage platforms since the coronavirus pandemic hit the country.
Rio2 Limited Naked Short Being Squeezed
With Canada markets closed and the US OTC open, the naked shorts that have been suppressing the stock price of Rio2 Ltd (RIO.v) (RIOFF) from Canada and via the US market cannot do their thing this morning.
The result is this:
0.635 -0.2027 (-24.20%) After hours: 6:04PM EDT
Comment: MVIS went up on almost 700 Million shares in 4 days and hit a high of $1.82 so lets say they sold 100,000,000 million shares naked short at a average price of $1.25
The stock is now 80 cents and looks like tomorrow it wil be 60 cents $1.25-60cents= about 65 cents profit now X 100M shares do the math= in 4 days they could walk way with 65 MILLION for selling fake shares
CRIME DOES pay
FINRA and major Exchanges impose $6.5m fine on Credit Suisse Securities over supervisory violations
Maria Nikolova
FinanceFeeds, 23 December 2019
FINRA and the Exchanges found that for a period of four years, Credit Suisse did not establish a supervisory system reasonably designed to monitor for potential spoofing, layering, wash sales and pre-arranged trading by its DMA clients.
High Court To Hear Merrill Lynch Naked Short Selling Suit
Law360, 30 June 2015
In a short order, the high court granted the banks’ petition for a writ of certiorari, which was filed over a Third Circuit decision to remand the shareholder suit to state court. The justices also granted the Securities Industry and Financial Markets Association leave to file an amicus brief in the matter.
Merrill Lynch Fined for Supervisory Failures Leading to Ponzo Scheme
Nicholas Guiliano
Securities Arbitration Attorneys, 20 June 2015
Bank of America subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $1 million by the Financial Industry Regulatory Authority, or FINRA, for failure to supervise one of its stockbrokers at its branch office in San Antonio, Texas. FINRA announced the fine on Oct. 4.
Bruce Edward Hammonds, a registered representative with the firm, used a Merrill Lynch account to operate a Ponzi scheme, luring 11 people to invest more than $1 million in B&J Partnership, an entity he ran for over 10 months, according to information released by FINRA. Hammonds request to open a business account for B&J was approved by Merrill Lynch supervisors, who subsequently failed to monitor the funds that the investors deposited and Hammonds withdrew. He was fired by Merrill Lynch in June 2008.
