Artful Dodger
"Neko no me"
Read Regulation SHO under Rule 204 – Close-out Requirement. Penalties for Broker Fails to Deliver:So they can make the price anything they chose whenever they want. We probably have a fairer chance in Atlantic City or Las Vegas. At least they have some rules they follow. If they can't locate shares what happens to the shares people bought from these thieves?
If the position is not closed out, the broker or dealer and any broker or dealer for which it clears transactions (for example, an introducing broker)[9] may not effect further short sales in that security without borrowing or entering into a bona fide agreement to borrow the security (known as the “pre-borrowing” requirement) until the broker or dealer purchases shares to close out the position and the purchase clears and settles.
Key Points About Regulation SHO