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    Forums ›› Main ›› Wall St. News ›› SEC Charges optionsXpress In Naked Short Selling Scheme  


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jeb9999
 

Registered: Feb 2008
Posts: 1864

 

04-16-12 07:48 PM

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

http://www.sec.gov/news/press/2012/2012-66.htm

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Eight
 

Registered: Mar 2009
Posts: 3366

 

04-16-12 10:49 PM

Interesting, I recall reading that the naked shorting was being done on some German exchange because of regs being different.. maybe some of it was and some was just fraud... I'd hate to be the CEO of some small struggling company and have predators like those described in the article coming after me.

This raises a question, not exactly on topic, but our revered ex-Senator Corzine's little fiasco has made life difficult for some 38,000 farmers in the Bread Basket of the US. I wonder if friends of his will be coming after those properties? I hope some investigative journalists will follow up on the fallout from Corzine's folly.

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nutmeg
 

Registered: Jan 2007
Posts: 18234

 

04-17-12 01:57 PM

According to the SEC’s order, the misconduct occurred from at least October 2008 to March 2010.
-----------------

Reg Sho took effect in 2005, 7 years later they prosecute someone violating the rules 4 years ago.

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EliteThink
 

Registered: Oct 2002
Posts: 782

 

04-18-12 12:37 AM


Quote from nutmeg:

According to the SEC’s order, the misconduct occurred from at least October 2008 to March 2010.
-----------------

Reg Sho took effect in 2005, 7 years later they prosecute someone violating the rules 4 years ago.



they go after low hanging fruit. they also used pretty aggressive language when results haven't even come out.

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