"Accelerated Close-Outs. Participants of registered clearing agencies must deliver equity securities to the clearing agency for a long or short sale by the settlement date. If a participant has a fail to deliver position at the clearing agency relating to a short sale, the participant must immediately close out the position by either borrowing or purchasing the shares before the beginning of trading hours on the first settlement day after the settlement date."
great, so I am probably locked out so these a$$hat crooks can bail them selves out with my shares. Then unlock and let me loose the rest of my money. Wonderful system
I agree that SEC Rule 204 could infact force a short covering or a buy in if there were a large short position but I see no evidence of a large short position. I'm all ear's if someone has proof.
I disagreed with the way you seemed to imply there would be a penalty of the $2.50 a share not SEC Rule 204.
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