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What about penalties for abusive long-buying ?
Examples: GOOG, AAPL.
Those long traders must be penalized.
What a joke both the NASD and SEC have become.
Typical of government agencies gone bureaucratic with no common sense or
fundamental knowledge of economics.
> -----Original Message-----
> From: jack zaner [mailto:jz@xxxxxxxxx]
> Sent: Tuesday, February 21, 2006 2:30 PM
> To: Omega List
> Subject: TradeStation
>
> FYI- - courtesy John Lothian's Newsletter:
>
> TradeStation Caught Up in Shorting Probe
>
> The NASD alleges up to 200 violations by its customers.
>
> Securities regulators are moving to crack down on an online
> brokerage for allegedly permitting a controversial Wall
> Street trading practice called
> "naked shorting.'' Online brokerage TradeStation (TRAD:Nasdaq -
> commentary - research - Cramer's Take) recently disclosed
> that regulators at the NASD have notified the firm that some
> of its customers may have engaged in improper short sales.
> The Florida-based brokerage said in a filing that regulators
> could fine the firm for nearly 200 infractions that took
> place in 2004. An official with TradeStation, a brokerage
> geared to daytraders, declined to comment. A NASD spokesman
> also declined to comment. Last year, the NASD and other
> securities regulators announced they were conducting a broad
> inquiry into allegations of improper shorting on Wall Street.
> The regulators are specifically trying to determine whether
> brokerages are complying with a new series of regulations
> designed to prevent abusive short-selling, such as naked shorting.
>
> http://www.thestreet.com/_tscrss/stocks/brokerages/10269303.html
>
> Regards, Jack.
>
>
>
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