Oh, the infamous offshore nefarious naked shorting group that is posted about on every OTCM scam.
"Naked shorts do not have these rules !"
Any naked shorting would show up in the FTDs and there is Zero FTDs - so much for the naked shorting theory.
But I will explain why there isn't any naked shorting on OZSC.
The “off shore shorting” myth is widely invoked in the OTCM. For those that understand Securities Rules and Regulations know this is pure myth.
But like every good myth there has to be a small element of truth to it to keep it alive.
Many many years ago long before the various Reg Sho rules were put into place, a few OTC stocks were dual listed on a foreign corrupt exchange. Two biggies were the Berlin Boerse and the VSE. When they were listed there they could be shorted and not show up in any reporting regime within the US.
But in ALL cases the stock was clearly visible on that exchange and all the trades were outside the US not on a US Exchange or the OTC.
So that practice many many years ago is what lead to this “foreign naked shorting” myth for stocks only trading in the US....which has never been possible as all trades in the US must be through a broker registered in the US.
And since then, a LOT has also changed.
Failure to deliver is also important when discussing naked short selling. When naked short selling occurs an individual agrees to sell a stock that they neither own nor have borrowed. Subsequently, the failure to deliver creates what are called "phantom shares" in the market.
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