Digital Brand Media and Marketing Group Inc (DBMM)

[allezlOM]

The New SEC Rules, Rule 204 requires that “Brokers and dealers that are participants of a registered clearing agency take action to close out failure to deliver positions.”
In other words, if the Naked Short doesn’t cover, the stock broker must step in and cover.Tthat is great for the retail purchaser because they can’t be left out in the cold.
And a naked short squeeze can happen very very quickly :)
That will be the $DBMM case...SOON !

Addiitve information : "Rule 204 requires firms that clear and settle trades to deliver securities to a registered clearing agency for clearance and settlement on a long or short sale in any equity security by the settlement date or to take action to close out failures to deliver by borrowing or purchasing securities of like kind and quantity by no later than the beginning of regular trading hours on T+4 for short sale fails or T+6 for long sale fails and fails attributable to bona fide market making. If a firm that clears and settles trades has a failure to deliver that is not closed out by the beginning of regular trading hours on T+4 or T+6, as applicable, the firm has violated Rule 204 and the firm, and any broker-dealer from which it receives trades for clearance and settlement, is subject to the pre-borrow requirement for that security."