Uprising from Miners took an uprising among Canadian mining companies, of which there are many on the TSX, for regulators to do anything.
These companies have been key targets of harmful “short and distort” campaigns in which naked shorters spread negative rumors to drive a company’s stock down by artificial means. And the smaller the miner, the easier the target.
Will Canada continue to allow naked short sellers to control capital markets?
The mining industry is up in arms and they’ve banded together to force change, but many are still concerned that the IIROC will only pay lip service to the Ontario task force’s new proposals and implementation will be light-handed.
This is the first time there has been any sense of pending optimism as opposed to pending doom for Canadian capital markets. And now, it’s all down to the regulators to challenge the predators, protect the prey--which includes the savings of regular shareholders--and reinstituting a free market where companies rise and fall on their merits and not on naked shorting tactics, distortion, and manipulation.