AI
| Followers | 318 |
| Posts | 55242 |
| Boards Moderated | 12 |
| Alias Born | 08/19/2009 |
Wednesday, November 16, 2022 4:59:23 PM
That headline is FALSE!
The case is: SEC Charges Broker-Dealer with Order Execution Violations
No "naked short" bullshit!
The case is about a brokerage house (BTIG, LCC) mismarking shares they sold as "short exempt" or "long" and failing to verify that the hedge fund had sufficient shares to deliver.
The selling hedge fund is not charged and WILL NOT have a short squeeze and have to rebuy the shares! i.e. this would be akin to Kramer from what some allege.
The brokerages' penalty would be to disgorge all ill-gotten gains and potentially civil penalties. No forced rebuying i.e. NSS!
So in this case where there is actually an SEC case filed... no potential outcome results in forced rebuying of the shares, does it?
No NSS!
Oh, and the shares were well over $1... NOT a penny!
Read the case... not the CliffNotes!
https://www.sec.gov/litigation/complaints/2021/comp25092.pdf
.
The case is: SEC Charges Broker-Dealer with Order Execution Violations
No "naked short" bullshit!
The case is about a brokerage house (BTIG, LCC) mismarking shares they sold as "short exempt" or "long" and failing to verify that the hedge fund had sufficient shares to deliver.
The selling hedge fund is not charged and WILL NOT have a short squeeze and have to rebuy the shares! i.e. this would be akin to Kramer from what some allege.
The brokerages' penalty would be to disgorge all ill-gotten gains and potentially civil penalties. No forced rebuying i.e. NSS!
So in this case where there is actually an SEC case filed... no potential outcome results in forced rebuying of the shares, does it?
No NSS!
Oh, and the shares were well over $1... NOT a penny!
Read the case... not the CliffNotes!
https://www.sec.gov/litigation/complaints/2021/comp25092.pdf
.
