Replies to post #142009 on GNCC Capital Inc (GNCP)

[BigBake1]

Please point out in the FINRA complaint that CANT was fined for Improper Accounting for FTD's... I will wait.. lol.. That is adding something into the complaint that does not exist. Further the broker doesn't account for FTD's, that is CNS.

Nobody cares that a firm was late in providing it's traders their individual reports as to what they are required to deliver on trade transactions for settlement. If one reads the actual complaint they will find that it was due to lack of manpower to adjudicate trade transactions due to a manual process that resulted in some trades exceeding the T+4 and T+6 mandates:

The four to five members of CMS conducted supervisory reviews of all of the Firm's trading, with two to three of its personnel reviewing for compliance with Regulation SHO. CMS's staffing levels were not reasonable, given the amount of supervisory oversight delegated to CMS, the number of trades CMS reviewed, and the highly manual nature of CMS's Rule 204(a)-related responsibilities. Because its members routinely worked twelve-hour days, the Head of CMS made several requests for additional personnel. However, Cantor did not increase the number of people assigned to CMS until 2016, leaving only four to five individuals to review the trading of approximately 700 registered representatives for most of the Relevant Period.
Cantor's manual system was unreasonable in other respects. If the individual responsible for compiling fail information from CNS was late, then the distribution of this information to CMS and the traders was also delayed. Even upon timely distribution of the report, stock loan personnel and the traders had a limited timeframe within which to attempt to borrow securities or effect a buy-in.

So it resulted in persistent FTD's generated in the system due to the slow action to inform the traders they were due for buy-in or borrow. SO WHAT???? It in no way shows an abusive naked shorting scheme to defraud the market as implied.