Citadel Securities LLC, a renowned broker-dealer, has been charged for violating Rule 200(g) of Reg SHO, a regulation that requires broker-dealers to
, refers to a trading strategy where you borrow a security, sell it, and then buy it back at a lower price. The short seller therefore profits from the asset’s value dropping.
Compliance with the order marking requirements of Reg SHO is a key component of regulatory efforts to curtail abusive market practices, including ‘naked’ short selling. According to the SEC, Citadel has agreed to pay a $7 million penalty in settlement of the charges, with the commission articulating that broker-dealers failing to comply with the Reg SHO rules would eventually affect the accuracy of its electronic records, “including electronic blue sheet reporting.” In turn, this would deprive the SEC of crucial data pertaining to the very same market it is supposed to be regulating.
The incident depicts how unsafe financial markets can be, with leading market makers feasting upon retail investors.Token launches like Arbitrum’s ARB airdrop and Optimism OP influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
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