Replies to post #206752 on NorthWest Biotherapeutics Inc (NWBO)

[notbrad]

In the United States, the Financial Industry Regulatory Authority, Inc. (FINRA) is a private corporation that acts as a self-regulatory organization (SRO). FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) and the member regulation, enforcement, and arbitration operations of the New York Stock Exchange. It is a non-governmental organization that regulates member brokerage firms and exchange markets. The government agency which acts as the ultimate regulator of the securities industry, including FINRA, is the Securities and Exchange Commission.

[Poor Man -]

But aren't Failures to Deliver reported to the SEC?

And if naked shorts are so invisible, then how does anyone really know naked shorts exist? And wouldn't this be such a pervasive problem across the entire capital markets landscape, effecting a large number of publicly traded companies, that it would be specially addressed by the SEC? If someone can naked short NWBO into oblivion, then why isn't happening everywhere? Seems like any easy way to make money and never get caught.

I have not trusted FINRA one bit. FINRA or Financial Institutions Regulatory Authority is the self-regulating organization for the financial institutions. They serve to protect their own. They are the ones who lobby congress and the SEC to keep the market-maker exemption for naked shorting using their liquidity argument, and then this is abused because there is no requirement to disclose naked short positions.

Frankly, at the very least, I think this exemption should be removed for companies with market caps below a certain threshold