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Article: Traders betting against FAANG stocks have made $5.5 billion during the brutal October sell-off (FB, AMZN, AAPL, NFLX, GOOG)

Article - Media, Publications

Traders betting against FAANG stocks have made $5.5 billion during the brutal October sell-off (FB, AMZN, AAPL, NFLX, GOOG)

Ethel Jiang, 30 October 2018

Betting against some of this year’s best-performing tech stocks — the FAANG basket — has been a money-making machine during the brutal tech sell-off in October. Short sellers of FAANG stocks, or those investors betting against these shares, have seen $5.52 billion in mark-to-market profits since the beginning of the month, a return of 17.14% on an average short position of $32.2 billion, according to data from S3 Partners, a financial-analytics firm.

Since that time, the tech-heavy Nasdaq index has plunged 12%, in large part because of the FAANG stocks — Facebook (-13%), Apple (-6%), Amazon (-24%), Netflix (-26%), and Google (-15%). Continue reading “Article: Traders betting against FAANG stocks have made $5.5 billion during the brutal October sell-off (FB, AMZN, AAPL, NFLX, GOOG)”

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Article: Lakewood’s Anthony Bozza Recommended Shorting Three Pot Stocks at Robin Hood

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Lakewood’s Anthony Bozza Recommended Shorting Three Pot Stocks at Robin Hood

Joshua Fineman, 30 October 2018

(Bloomberg) — Lakewood Capital Management LP’s Anthony Bozza recommended shorting Tilray Inc., Canopy Growth Corp., and Aurora Cannabis Inc. at the Robin Hood Investors Conference in New York City, according to a person with knowledge of the presentation. Two of these companies, Canopy Growth and Aurora Cannabis, were named new shorts by Lakewood in their fourth-quarter letter to clients in January.

Bozza said that it’s not a matter of if, but when these pot stocks collapse. Tilray shares have reversed about 9 percent for the day’s peak, turning negative around the same time that Bozza was scheduled to present at RobinHood.
Continue reading “Article: Lakewood’s Anthony Bozza Recommended Shorting Three Pot Stocks at Robin Hood”

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Article: (SEC) Meeting with Representatives of Overstock.com, DowLohnes Government Strategies and Haverford Group

Article - Media, Publications

(SEC) Meeting with Representatives of Overstock.com, DowLohnes Government Strategies and Haverford Group

basserdan, 27 October 2018

On September 8, 2008, Jonathan Johnson of Overstock.com, Kenneth Salomon of DowLohnes Government Strategies LLC, and John Wellborn of the Haverford Group met with Commissioner Aguilar and his counsel, Cyndi Rodriguez. They discussed issues related to the amendments to Regulation SHO, Rel. No. 56213 (S7-19-07) and the Emergency Order, Rel. Nos. 58166 and 58190 (S7-20-08) and issues related to data on the volume of failures to deliver. Continue reading “Article: (SEC) Meeting with Representatives of Overstock.com, DowLohnes Government Strategies and Haverford Group”

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Fined: Investment Placement Group Fined by FINRA

Fined

Investment Placement Group Fined by FINRA

26 October 2018

An AWC was issued in which the firm was censured and fined $10,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it made payments of approximately $3.85 million in commissions earned by registered representatives to unregistered entities instead of directly to the representatives. The findings stated that each representative was a co-owner of the entity to which the firm paid the commissions.

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Fined: Avalon Investment & Securities Group, Inc. Fined by FINRA

Fined

Avalon Investment & Securities Group, Inc. Fined by FINRA

25 October 2018

An AWC was issued in which the firm was censured, fined $12,000, ordered to pay $1,515, plus interest, in restitution to customers and required to retain an independent consultant to conduct a comprehensive review of the adequacy of the firm’s policies, systems and procedures (written and otherwise) and training relating to the violations identified in the AWC.

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Article: Overstock Subsidiary Medici Ventures Invests in Minds, Patrick Byrne to Join Board

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Overstock Subsidiary Medici Ventures Invests in Minds, Patrick Byrne to Join Board

JD Alois, 22 October 2018

Overstock (NASDAQ:OSTK), via subsidiary Medici Ventures, has invested in Minds, Inc. a cryptocurrency social network. The investment will be joined by Overstock founder and CEO Patrick Byrne joining the board of directors of Mind. Details on the amount invested were not disclosed.

Patrick M. Byrne, a huge blockchain proponent, commented that Minds’ work employing blockchain technology as a social media application is the “next great innovation toward mainstream use of this world-changing technology.” Continue reading “Article: Overstock Subsidiary Medici Ventures Invests in Minds, Patrick Byrne to Join Board”

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Fined: Maxim Group LLC Fined by FINRA

Fined

Maxim Group LLC Fined by FINRA

19 October 2018

An AWC was issued in which the firm was censured, fined $65,000, ordered to pay $167,780.49, plus interest, in restitution to customers and required to review and revise, as necessary, its systems, policies and procedures (written and otherwise) and training with respect to the sale of Unit Investment Trusts (UITs). Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish and maintain a supervisory system, and establish, maintain and enforce WSPs, reasonably designed to detect and prevent unsuitable short-term trading in UITs.

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Fined: Morgan Stanley & Co. LLC Fined by FINRA

Fined

Morgan Stanley & Co. LLC Fined by FINRA

October 18, 2018

An AWC was issued in which the firm was censured and fined a total of $56,000, of which $8,000 is payable to FINRA. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to take reasonable steps to establish that intermarket sweep orders (ISOs) it had routed met the definitional requirements set forth in the Securities Exchange Act of 1934 Rule 600(b)(30) of Regulation NMS primarily due to systems issues. The findings stated that as a result of the systems issues, the firm routed ISOs to multiple markets, which potentially traded through protected quotations in NMS stocks.

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Fined: MBSC Securities Corporation Fined by FINRA

Fined

MBSC Securities Corporation Fined by FINRA

18 October 2018

An AWC was issued in which the firm was censured and ordered to pay $971,289.07, plus interest of $242,955.64, in restitution to customers. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish, maintain and enforce a supervisory system and Written Supervisory Procedures (WSPs) reasonably designed to monitor the transmittal of funds from customer accounts to third parties.

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Fined: Lenox Financial Services, Inc. Fined by FINRA

Fined

Lenox Financial Services, Inc. Fined by FINRA

18 October 2018

An AWC was issued in which the firm was censured and fined $15,000. A lower fine was imposed after considering, among other things, the firm’s revenue and financial resources. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to make required financial interest and beneficial ownership disclosures in research reports.

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Article: Manulife faces backlash from investors over failure to disclose court case

Article - Media, Publications

Manulife faces backlash from investors over failure to disclose court case/

Matt Scuffham, 13 October 2018

TORONTO (Reuters) – Canada’s biggest life insurer is under pressure from shareholders to explain why it failed to disclose details of an ongoing court case which came to light after a short-seller released a report detailing the litigation. The stock has dropped 11.5 percent since Muddy Waters Capital LLC said last week that it had taken a short position, compared with a 4.7 percent decline in the stocks in Canada’s financial sector. Muddy Waters cited a court case pending in the Canadian province of Saskatchewan it believes could damage Manulife’s financials. The case against Manulife was filed on Nov. 23, 2016 by Mosten Investment LP, managed by Ontario businessman Michael Hawkins, documents submitted to the court show.
Continue reading “Article: Manulife faces backlash from investors over failure to disclose court case”

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Article: INVENTIVA to Participate in the “ROTH Battle of the NASH Thrones Investor Conference”

Article - Media, Publications

INVENTIVA to Participate in the “ROTH Battle of the NASH Thrones Investor Conference”

Yahoo Finance, 12 October 2018

Daix (France), October 12, 2018 – Inventiva S.A. (“Inventiva” or the “Company”), a biopharmaceutical company developing innovative therapies in nonalcoholic steatohepatitis (NASH), systemic sclerosis (SSc) and mucopolysaccharidosis (MPS), today announced that Pierre Broqua, Chief Scientific Officer and co-founder of Inventiva, will participate in the upcoming “ROTH Battle of the NASH Thrones Investor Conference” being held on October 17, 2018 at the Park Hyatt New York hotel, New York, USA.

Pierre Broqua will be speaking in the panel entitled “House of PPARs vs. House of THR-beta”, one of the conference`s four panel discussions covering topics currently at the forefront of drug development in NASH.

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Article: Russian Whistleblower Assassinated After Uncovering $200 Billion Dirty-Money Scandal

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Russian Whistleblower Assassinated After Uncovering $200 Billion Dirty-Money Scandal

Nico Hines, 10 October 2018

A crusading Russian official traveled to Estonia in the summer of 2006 to warn the authorities that an unprecedented money-laundering scheme had been established in the tiny Baltic financial sector. The scam he had uncovered would go on to become the biggest dirty-money operation in history: the $200 billion Danske Bank scandal.

Three months after Andrei Kozlov, the first deputy chairman of the Russian Central Bank, tried to raise the alarm, he was dead. Continue reading “Article: Russian Whistleblower Assassinated After Uncovering $200 Billion Dirty-Money Scandal”

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Article: Goldman Sachs may face $1.76 mn fine for naked short selling

Article - Media, Publications

Goldman Sachs may face $1.76 mn fine for naked short selling

 Jin Young-tae and Choi Mira, 10 October 2018

The U.S. investment banking giant Goldman Sachs could face a fine of up to 2 billion won ($1.76 million) by the South Korean financial authorities for conducting more than 100 naked short selling transactions banned by the Korean law.

This would be the biggest fine to be slapped for a financial institution in short-sale transactions in the country.

According to sources from the investment banking industry on Tuesday, the financial authority decided to impose a 2 billion won fine on Goldman Sachs for illegally shorting more than 100 local stocks on May 30, and will submit its finding to the top decision-making Securities & Futures Commission of the Financial Services Commission (FSC) within this week. Continue reading “Article: Goldman Sachs may face $1.76 mn fine for naked short selling”

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Fined: UBS Financial Services Inc. Fined by FINRA

Fined

UBS Financial Services Inc. Fined by FINRA

5 October 2018

An AWC was issued in which the firm was censured and
fined $50,000. Without admitting or denying the findings, the firm consented
to the sanctions and to the entry of findings that it failed to report to the Trade
Reporting and Compliance Engine® (TRACE®) transactions in TRACE-Eligible
Agency Debt Securities and in TRACE-Eligible Securitized Products within the
time permitted under FINRA Rule 6730(a).

Read full report.