Subject: Michael Strine

Subject of Interest

Michael Strine is first vice president at the Federal Reserve Bank of New York, the second ranking officer in the Bank and its chief operating officer, as well as an alternate voting member of the Federal Open Market Committee. He leads or serves on key Federal Reserve System committees to govern technology, human resources, enterprise risk management, resources, policies and payments infrastructure. Prior to that, Strine was executive vice president and head of the Corporate Group. Before joining the Bank in 2013, he served as executive vice president and chief operating officer at the University of Virginia. Prior to his tenure at University of Virginia, Strine served as vice president, chief financial officer and treasurer for Johns Hopkins University. Strine earned his doctorate and master’s degree from Johns Hopkins University in political science, and completed graduate studies at the University of Delaware in public administration and budgeting.

Biography

Federal Reserve Bank of New York

Web: SEC Charges optionsXpress and Five Individuals Involved in Abusive Naked Short Selling Scheme

Web

SEC Charges optionsXpress and Five Individuals
Involved in Abusive Naked Short Selling Scheme

SEC, 16 April 2012

The SEC’s Division of Enforcement alleges that Chicago-based optionsXpress failed to satisfy its close-out obligations under Regulation SHO by repeatedly engaging in a series of sham “reset” transactions designed to give the illusion that the firm had purchased securities of like kind and quantity. The firm and customer Jonathan I. Feldman engaged in these sham reset transactions in a number of securities, resulting in continuous failures to deliver. Regulation SHO requires the delivery of equity securities to a registered clearing agency when delivery is due, generally three days after the trade date (T+3). If no delivery is made by that time, the firm must purchase or borrow the securities to close out the failure-to-deliver position by no later than the beginning of regular trading hours on the next day (T+4).

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