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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: basserdan who wrote (3584)7/24/2008 9:19:41 AM
From: Max Fletcher   of 5034
 
Today's WSJ has an Op-Ed by Christopher Cox. Parts of it are similarly worded to the article you referenced. A couple snippets:

But Regulation SHO also offers an alternative to these requirements if the broker has "reasonable grounds" to believe that the security can be borrowed. This could create opportunities for evasion of the rule's purpose.

That has led the commission to consider simply eliminating the "reasonable grounds" alternative altogether. <snip>

We are also exploring other remedies to "distort and short" and naked short-selling abuses, such as the reporting of substantial short positions (akin to the long-standing requirement to disclose significant long positions). All of this comes on the heels of the agency's recent elimination of other exceptions to Regulation SHO, and our March proposal of a new antifraud rule targeting naked short selling.
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