RE:RE:RE:RE:All it takes is 1 share and 1 cent continued You are a short seller so obviously you will refute everything exposing your shenanigans. The date of the article is not the main point in this case because it was meant to prove that some use odd lots to abuse retail investors to highlight the fact that the manipulation exists and is real. But since you want to twist that detail to your advantage and discredit the whole argument (short sellers are masters at lying by omission, twisting facts and picking and choosing between financial ratios) let us address it and consider that regulators did indeed address the problem as stated in the title (NYSE moves to prevent abuses in odd-lot trades). My rebuttal is that regulators making something illegal does not mean some rogue shysters will stop doing it, that is why we still have criminals around to this day. Investigations take a long time and regulators are overwhelmed, understaffed and always playing catch up.
To prove my point here is another article (2016 this time but the logic would apply to a later date since the regulators were supposed to address the problem in 2007 and failed to enforce their rules so had to catch the manipulators after it was done and proved through evidence gathering which takes a while as we all know)
Source link for the article:
https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/disciplinary-actions/2016/Electronic%20Transaction%20-%20Arca%20Decision.pdf
FINRA department of market regulation took disciplinary actions against market manipulators who repeatedly violated its rules and regulatory framework. The list of violations is pages long but I will cite one or two:
- Despite numerous red flags, heightened risks, and repeated notice by regulators of potentially manipulative activity being effected by certain Market Access Customers, ETC’s approach to its regulatory responsibilities was inadequate. The Firm also failed to dedicate sni’ficient compliance resources and staff to meet its regulatory responsibilities as its business grew, and, in some instances, to conduct adequate follow-up and review of potentially manipulative activity, such as wash trades, pre-arranged trades, layering, spoofing and other momentum ignition strategies, violative odd-lot trades, and trades that impermissibly marked the opening and closing of trading. Moreover, certain systems and controls ETC did design and implement were flawed and inadequately tailored to it business.
10. By failing to establish, maintain, and enforce an adequate supervisory system, including WSPs, reasonably designed to monitor and investigate red flags, detect and prevent potentially manipulative trades of its Market Access Customers, and ensure compliance with the federal securities laws and regulations, including the Market Access Rule, and NYSE Arca rules, F1NRA rules, and SRO Rules, ETC violated NYSE Area Equities Rules 6.18 (concerning, among other things, ETP Holders’ supervisory responsibilities), 6.1(b) (concerning, among other things, adherence to principles of good business practice), and 6.2(b) and 2010 (as of June 30, 2011) (both concerning, among other things, conduct inconsistent with just and equitable principles of trade).