NAKED SHORTING...MUST READ!!

[XenaLives]

While the SEC has passed a lot of rules to supposedly deal with the problems, they have totally blown it when it comes to dealing with incoming complaints, so the real incidence of NSS is probably way underestimated.

Here is a SEC memo about internal audit of how NSS complaints are handled by the SEC - they admit there is reason for concern and they admit that they have blown it:

http://www.sec-oig.gov/reports/AuditsInspections/2009/450.pdf

I have not been able to find out if these problems have been corrected.