FINRA is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List for the fourth quarter of 2020. This updated list of OTC equity securities eligible for trade report dissemination for trades of fewer than 100 shares is effective as of March 19, 2021. To view changes, visit the Daily List: Security Attribute Changes page, select the “Unit of Trades” filter and enter March 18,
FINRA Identifies Energy Stocks as Latest "Pump and Dump" Scheme
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Morgan Stanley DW Inc. (now known as Morgan Stanley & Co. Incorporated) $1.5 million and ordered the firm to pay more than $4.6 million in restitution for rule violations relating to the sale of corporate bonds to retail customers at excessive prices. The firm was cited for charging
SUGGESTED ROUTING
Senior ManagementAdvertisingInternal AuditLegal & ComplianceMutual Fund
Executive Summary
On July 12, 1994, the Securities and Exchange Commission (SEC) approved amendments adopting Guidelines to Article III, Section 35 of the NASD Rules of Fair Practice that prohibit members from using investment company rankings in advertisements and sales literature unless
SUGGESTED ROUTING
Senior ManagementLegal & ComplianceOperationsTrading
Executive Summary
The Securities and Exchange Commission (SEC) has adopted amendments to certain rules under the Securities Exchange Act of 1934 (Act) that apply to transactions in low-priced securities traded in the over-the-counter market. Specifically, the SEC amended Rule 15c2-6, which makes it
(a) Recording and Reporting Industry Member Data
(1) Subject to paragraph (a)(3) below, each Industry Member shall record and electronically report to the Central Repository the following details for each order and each Reportable Event, as applicable ("Recorded Industry Member Data") in the manner prescribed by the Operating Committee pursuant to the CAT NMS Plan:
(A) for original
Dear sir or madam: Short interest and short position reporting should be mandatory and totally visible to all, no exceptions. This is a CRITICAL piece of data missing from our view. Knowing the amount of short interest a given ticker has would alter my investment strategy significantly. Why would a small investor such as myself want to put their money against major funds such as Melvin capital
While short sales can be an important market mechanic to send signals to protect investors from corrupt or inept corporate leadership, hidden short sales and hidden synthetic short sales work against a free and fair marketplace. If institutional and "big money" investors detect reasons to believe that the future success of a company is unlikely, hiding their short positions at best
Regarding TSO- It is irresponsible to allow trading over and above the TSO. This amounts to trading synthetic shares that do not exist and allows market makers to game the system. Not having accurate and timely TSO information and control in a market where brokers have the ability to perform thousands of trades per second is unacceptable and amounts to a failure in duty. On market makers who act
While short sales can be an important market mechanic to send signals to protect investors from corrupt or inept corporate leadership, hidden short sales and hidden synthetic short sales work against a free and fair marketplace. If institutional and "big money" investors detect reasons to believe that the future success of a company is unlikely, hiding their short positions at best
