Replies to post #20123 on NSS ~ Counterfeiting Stock ~ MM Games Played

[madeindet]

Cantor Fitzgerald Fined $2 Million Over Short Sales Violations
Finra also said Cantor repeatedly ignored “red flags,” including internal audit findings from its staff.
Aziz Abdel-Qader | Regulation (Institutional FX) | Tuesday, 05/03/2019 | 19:46 GMT+1
FINRA logo
Photo: Reuters
The Financial Industry Regulatory Authority (FINRA), the largest independent regulator for all securities firms ?doing business in the United States, has fined Cantor Fitzgerald & Co. $2 million for violating ‘naked short selling’ rules over a period of at least four years.

Short selling – which allows investors to make gains in a falling market by borrowing a security they don’t own, selling it and agreeing to buy it back at a lower price – plays an important role in developed capital markets since it makes price discovery more efficient and smooths volatility whilst providing investors with a host of risk-management tools.

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FINRA said Cantor’s supervisory system was not reasonably designed to achieve compliance with the federal requirements known as ‘Reg SHO’ from January 2013 through December 2017.

Regulation SHO requires firms to deliver the shares, after completion of a short sale transaction, on settlement date or take affirmative action to close out the “failure to deliver” shares by purchasing or borrowing the securities. To limit ongoing naked short positions, the broker has no choice but to reject any additional sale orders if the securities were not delivered or closed out within legally required time frames.

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Regulation SHO also prohibits the execution of short sales in covered securities at a price that is less than or equal to the best bid when the price of the security has fallen by 10 percent or more in one day.

Cantor ignored “red flags”
During that period, according to FINRA, Cantor was aware of supervisory deficiencies but did not implement remedial measures until 2016. As a result, the firm did not close out more than 4,879 fails-to-deliver in a timely manner, while it accepted and executed short orders in those securities without first borrowing (or arranging to borrow).

Wall Street’s self-regulator also said Cantor Fitzgerald repeatedly ignored “red flags,” including internal audit findings and multiple internal warnings from its staff.

The global financial services group neither admitted nor denied the charges, but consented to the entry ?of FINRA’s findings. Also, Cantor has agreed to implement enhancements to meet ?regulatory reporting requirements and retain an independent consultant to remedy ?issues related to short sales, as part of its settlement with the FINRA.?

[fourkids_9pets]

20190307|PTOI|3700|0|3700|O 100%
3700 = 3700

well isn't that interesting .. hmmm

trade

 14:39:00		0.0249	3700	OTO .. @ *ask* .. adjusts off of CDEL .. marked 

Detailed Quote: PTOI
PLASTIC2OIL INC
0.0249Up 0.003 (13.70 %)AS OF 2:39:00PM ET 03/07/2019

 
 Last Trade	0.0249 
 Trade Time	2:39:00pm ET 
  
 Change	0.003 
 % Change	13.70% 
  
 Bid	0.0188 
 Bid Size	13600 
  
 Ask	0.0249 
 Ask Size	63300 
  
 Open	        0.0249 
 Day High	0.0249 
 Day Low	0.0249 
 Previous Close 
 03/06/2019	0.0219 
 52-Week High 
 01/29/2019	0.08 
 52-Week Low 
 07/11/2018	0.008 
  
 Price Performance (Last 52 Weeks) 
 03/06/2019	-40.00% 
  
 Volume	3,700 
 Volume (10 day Average)	61,619 
 Volume (90 day Average)	65,131 
  
 Market Capitalization	$2.73M 
 Shares Outstanding	124,756,000

B/A .. volume 3700

 
 OTCX	0.0188	13,600	14:39 
 CDEL	0.012	705,000	14:39 
 CSTI	0.008	350,566	09:30 
 NITE	0.0065	15,000	09:30 
 ETRF	0.0025	50,000	09:30 
 MAXM	0.0001	10,000	07:35 
 CANT	0.0001	10,000	08:30 
  
 ETRF	0.0249	50,000	09:30 
 CDEL	0.0249	13,300	14:39 
 NITE	0.025	10,000	03/05 
 CANT	0.065	100,000	09:30 
 CSTI	0.24	100,000	09:30 
 MAXM	200.00	1	07:35 
 OTCX	U	0	08:15

B/A .. volume 0 (approx 11:05AM)

 
 OTCX	0.0111	13,600	09:35 
 CDEL	0.0081	20,000	09:42 
 CSTI	0.008	350,566	09:30 
 NITE	0.0065	15,000	09:30 
 ETRF	0.0025	50,000	09:30 
 MAXM	0.0001	10,000	07:35 
 CANT	0.0001	10,000	08:30 
  
 ETRF	0.0249	50,000	09:30 
 CDEL	0.0249	17,000	09:42 
 NITE	0.025	10,000	03/05 
 CANT	0.065	100,000	09:30 
 CSTI	0.24	100,000	09:30 
 MAXM	200.00	1	07:35 
 OTCX	U	0	08:15

4kids