Article: The woman shaking up Wall Street

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The woman shaking up Wall Street

Safi Thind, SquareMile, 7 February 2020

“Valeant had a certain reputation within the industry,” she says. “I knew it was already engaged in unethical, potentially fraudulent practice. Pharmaceuticals are a very established industry, when someone tries to disrupt it and post unusual numbers, there’s probably something wrong.”

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Article: Germany’s BaFin investigating Wirecard communication ahead of audit publication

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Germany’s BaFin investigating Wirecard communication ahead of audit publication

Reuters, 8 May 2020

BaFin had previously said it would include the findings of the KPMG audit in its ongoing investigation into suspected market manipulation in Wirecard stock.

Comment: Regulatory agencies are easy to manipulate as a secondary means of direct market manipulation. They address only a tiny fraction of the crimes being committed by naked short sellers, while being easily spoofed into helping naked short sellers because they take fraudulent whistleblowers at face value when it suits them to do so.

Article: Regulators across Europe clash over bans on short selling

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Regulators across Europe clash over bans on short selling

Philip Stafford, Laurence Fletcher, Robert Smith

Financial Times, 30 March 2020

France, Spain and Italy issued one-day prohibitions against betting on falling share prices for selected companies — and then longer bans of between one and three months, applied to all stocks listed on their domestic markets. Belgium, Austria and Greece swiftly followed suit, while Esma, the pan-European regulator, demanded tighter standards on reporting of short positions. Markus Ferber, an influential European MEP, urged a co-ordinated ban across the continent. But the clampdown has been partial.

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Article: German regulator files complaint on alleged Wirecard manipulation

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German regulator files complaint on alleged Wirecard manipulation

BaFin targets two FT journalists and several short-sellers after reports hit payments group’s share price

Olaf Storbeck

Financial Times, 16 April 2019

The German financial watchdog has filed a criminal complaint against two Financial Times journalists and several short sellers, accusing them of potential market manipulation over reports about suspected accounting irregularities at payments processor Wirecard.

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Article: Europe Comes to Terms With Market Manipulation; the SEC and the American Media Bury Heads in the Sand

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Europe Comes to Terms With Market Manipulation; the SEC and the American Media Bury Heads in the Sand

Mark Mitchell

DeepCapture, 21 May 2010

Well, the current state of the global financial markets is certainly interesting. I mean, you have to be a bit sick in the head, but if you think about it the right way, it really is “interesting” — sort of like, oo-wee, look, the girl in the cute leotard is falling off the tightrope, there’s no net, and she’s going to go “splat” when she hits that pavement. How interesting! And check it out, the circus animals have gone berserk — the tigers are tearing the trainer into bloody shreds, the elephants are stampeding, the tent might very well collapse, maybe we’re doomed, and look at those clowns – they’re still smiling. How deliciously interesting!

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Article: Germany bans naked short-selling

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Germany bans naked short-selling

Holder Hansen, Andreas Rinke

Reuters, 18 May 2010

Germany, in an attack on the financial speculation on which it blames much of the euro zone’s debt crisis, on Tuesday announced a ban on some high-risk bets that prices of bonds and stocks will fall.

Analysts, however, were skeptical that Germany’s surprise move to ban some trades in a strategy known as naked short selling could be effective in taming market volatility, with one saying it suggested “desperation.”

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