When FINRA blue sheets a stock, the tape does not lie. EVER! When FINRA requests member firms the records of certain trades or trades in a specific metric of dates, guess what comes up?
ALL of the account information of shareholders of record of a specific date, and or any account that purchased or sold during a period.
This includes the name on the account, account number, address, phone number, trade dates, time stamps, quantities, and did I mention SS#s or TID#s.
And ya know what they do with that? They cross reference the data with the Federal Reserve Board (FRB) and find other accounts affiliated.
The tape doesn't lie.
They use this process to not just identify fraud, manipulation or insider trading (yes, this is how they catch them so quickly), they use this process to restrict accounts at the Fed level for Reg T violations, Margin violations, Free-Riding among others.
And if I got a Blue Sheet request on a stock, and I was not busy, I could Blue Sheet it in seconds, put it in a spread sheet and submit it, where FINRA could have it in five minutes.
Trust me, FINRA and the SEC have something on someone that caught their attention, not just a chart on the internet.
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