PG - No longer on the REG SHO Threshold Security L The following was published on Thomson ONE:
PG: No longer on the REG SHO Threshold Security List
PREMIER GOLD MINES LTD ("PG-T; PIRGF-0")
- No longer on the REG SHO Threshold Security List //st
Date On List Date Off List Reg SHO Flag Rule 3210
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2013/02/19 2013/03/04 N Y
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This issuer is no longer subject to mandatory close-out requirements outlined in NASD Rule 3210.
More info at https://www.sec.gov/divisions/marketreg/mrfaqregsho1204.htm
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Possibilities:
- “PG” being removed from the “Threshold Sec. List” may indicate that in the short term the large fail to deliver position has been resolved.
- The shorts may have found a willing lender of certificates.
- If the shorts have found a lender, it appears the pressure is off to cover their short positions -- so they may wait – at least temporarily.
Definition of 'Threshold List'
A daily public accounting of market settlement system failures (or 'fails') published by the National Securities Clearing Corporation in compliance with SEC regulations.
A market settlement failure occurs when delivery on a security is not made within the allotted settlement period.
Also referred to as the "Regulation SHO Threshold Security List".
Investopedia explains 'Threshold List'
A security will make the threshold list if it meets the following criteria over five consecutive settlement days:
1) The total number of fails to deliver exceeds 10,000 shares
2) The total number of shares that have failed to deliver exceed 0.5% of the outstanding shares, and
3) The security is listed on a similar list by a self-regulatory organization.
Once a company is added to the list it remains there until the 'fails' fall beneath the benchmark standards for five consecutive trading days.
Many stocks that have allegedly seen naked short selling will end up on this list.
Read more: https://www.investopedia.com/terms/t/thresholdlist.asp#ixzz2MicdEI1f