Christian Levine Lawyer on Cdn markets dated March 2023 You should read this if you still have doubts about Naked shorting or counterfeiting of shares and the abuse that is going on in Canada.
https://lautorite.qc.ca/fileadmin/lautorite/consultations/Commentaires/bourses-chambres-oar/2023-03-08/ChristianLevine.pdf
Not surprisingly, there are large amounts of fails to deliver in the Canadian system otherwise known as “Counterfeit Shares.” Counterfeit shares are shares that the buyer has paid for, but the seller hasn’t actually delivered to consummate the transaction. This activity can be used to overwhelm the share price of any company no matter the size of its market capitalization with unlimited supply guaranteeing that the stock price rapidly declines. This downward manipulation activity can also be done with spoofing on a massive scale to manipulate any quote lower. This fake volume does what it’s meant to do, create the affect that there is a potential problem with the issuer which brings in additional sales of the stock impairing the issuers cost of capital.
This illegal activity has been well documented by us to authorities in detail in both Canada and the United States. We have prosecuted approximately 20 cases that have at their core these illegal activities by market makers, prime brokers and others.