Janice, by chance did you see the reference to "widespread scheme of impermissible short selling activity". You don't suppose that that could include the "naked short selling" that you seemed to think was missing? Then did you happen to notice "activity on behalf of three hedge fund clients? I didn't see where they were a hedge fund but, rather, acted on behalf of such clients. RFL
NASD BARS SCOTT W. RYAN, EXPELS RYAN & COMPANY FOR FAILURE TO COOPERATE IN SHORT SALE PROBE
NASD Investigation into Short Selling Activity for Hedge Funds Continues
Washington, D.C.—An NASD Hearing Panel has barred Scott W. Ryan of Bryn Mawr, PA, and has expelled Ryan & Company, LP (RYCO) of West Conshohoken, PA, for failure to cooperate in an ongoing investigation into whether Ryan and the firm engaged in a widespread scheme of impermissible short selling activity on behalf of three hedge fund clients. --------------------------------------------------------------
and from the NASD Ryan was in fact a registered Broker/Dealer:
TYPES OF BUSINESS This section lists the type(s) of business that the brokerage firm is currently engaged in as reported on the Form BD.
-Investment advisory services -Broker or dealer making inter-dealer markets in corporate securities over-the-counter -Mutual fund retailer -Put and call broker or dealer or option writer -Underwriter or selling group participant (corporate securities other than mutual funds) -Effects transactions in commodity futures, commodities, commodity options as broker for others or dealer for own account
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