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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: ravenseye who wrote (3432)5/10/2008 12:07:58 PM
From: rrufff  Read Replies (1) of 5034
 
Thanks for posting that. Anyone who has time and wants to really learn these issues would be well-advised to read the proposal and the comments. Comments from ordinary individuals are most welcome and, from what I understand, are well-received, particularly if they are not just "form-type" copy and paste from others.

For example, here is just one tidbit picked up

For example, the Commission recently announced a settled enforcement action against hedge fund adviser Sandell Asset Management Corp. (“SAM”), its chief executive officer, and two employees in connection with allegedly (i) improperly marking some short sale orders “long” and (ii) misrepresenting to executing brokers that SAM personnel had located sufficient stock to borrow for short sale orders.20
As we have stated previously, we are concerned that fails to deliver may have a negative effect on the market and shareholders.21 For example, fails to deliver may deprive shareholders of the benefits of ownership, such as voting and lending.22 In addition, where a seller of securities fails to deliver securities on settlement date, in effect the seller unilaterally converts a securities contract (which should settle within the standard three-day settlement period) into an undated futures-type contract, to which the buyer might not have agreed
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