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Harleyhard08
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FINRA's BS "Enforcement" on Barclays: Why @FINRA is GUILTY of Regulatory Concealment.
We're constantly told America has the most transparent, safest, most secure public markets on the planet, the "gold standard" for investors and companies brave enough to go public. Yet here we are again with FINRA handing out yet another limp slap on the wrist while demonstrating that they don't care AT ALL about market integrity or individual investors. Let's look at this Barclays case, and why this "regulatory action" is a slap in the face to public companies and investors alike.
In their recent Letter of Acceptance, Waiver, and Consent (AWC), Barclays admitted to executing 25,711 short sale orders in equity securities between December 2020 and May 2022 without bothering to locate borrowable shares. That's a straight-up violation of Rule 203(b)(1) of Reg SHO... the "locate requirement". This rule is designed to prevent exactly this kind of naked short selling, but here it is happening in broad daylight. On top of that, from December 2020 all the way through September 2023, FINRA failed to maintain any reasonably designed supervisory system to catch this crap. Reused trading accounts with leftover "market maker" coding just let them skate by, and FINRA's response? A measley $140,000 fine plus a censure. No admission of guilt, of course. Just the usual "without admitting or denying the findings."
Now think about that for a second. 25,711 improper short orders over 18+ months. How much cash do you figure Barclays and their clients made off those trades? Do you know how insanely profitable shorting without locates in potentially hard to borrow names can be? These practices depress prices, triggers stops, and creates synthetic supply that never actually existed... all at the SAME TIME! We're talking potential millions (or more) in profits, fees, and spreads for a massive global bank like Barclays, whose overall profits run in the billions annually. All while the investing public is literally stolen from in the process. And FINRA hits them with pocket change fines? $140k is literally nothing to these institutions. It's a fraction of their cost of doing business. Less than a rounding error. And yes, similar Reg SHO cases against big players have seen fines in the $2M–$5M range for thousands of violations, but compared to how much they MADE on this conduct? This isn't enforcement... it's a fking participation trophy for breaking the rules.
As if you needed further proof of how FINRA protects bad actors while making investors a sacrificial lamb, lets tie in the MMTLP situation. Both the issuing company's estate, and the Next Bridge Hydrocarbons spinout company, and all investors involved in BOTH, have been screaming for a full share audit, blue sheets, and real transparency around the December 2022 trading halt and alleged naked short positions. One hedge fund alone (Anson Funds) has allegedly admitted to being short 10 million shares, nearly 4x the reported total of 2.65 million short shares that FINRA has stated on the record. Around a HUNDRED congressional members total have advocated for this data to be turned over, and FINRA balked at every single one of their requests. Yep... instead of handing over the data and letting the facts come out, FINRA has battled investors in court at every turn, resisting subpoenas, claiming it's too "burdensome," and burning through serious legal fees to keep the details hidden.
Now... here's what really pisses me off: The companies whose stocks get caught up in this Barclays mess? They get zero notification. Nothing. Not a single ticker named in the AWC. Just vague talk of "equity securities." So if your company's share price was artificially depressed by this naked shorting, if your hardworking investors got screwed by phantom shares that shouldn't have existed in the most "free and fair markets in the world"... too fkin bad. Go play detective with old threshold lists and short interest data if you want. Spend a fortune on lawyers and forensic analysis just to figure out if you were targeted. FINRA ain't helping, and as the MMTLP situation demonstrates, will likely spend money to fight having to be transparent with you. Meanwhile, when some company has a data breach and your personal info gets stolen, you get a nice letter in the mail informing you of such, which is often followed by a settlement check of some kind. But when Wall Street players flood the market with synthetic shares that can tank your stock and strip you of your hard earned savings? Crickets from FINRA and the SEC. MONEY SPENT BY THE REGULATORS TO CONCEAL THE TRUTH. NO transparency. No help. And no one cares.
This is supposed to be the most transparent market in the world? Gimme a fkin break. FINRA polices brokers with confidential investigations, generic public settlements, and fines so weak that they barely register. There's NOTHING transparent about it. No mandatory share audits. No one gets fired or HEAVEN FORBID criminally charged for what basically equates to printing counterfeit money. Then on the other side of it, no restitution to issuers or investors. No heads-up so companies can evaluate their legal options. Just more regulatory concealment that lets this shit fester and keep right on goin.
So let's call it what it is. The system is built to protect the players, not the public companies or the hardworking investors upon whom our free markets were originally built. It has now become a fking blueprint for how to abuse loopholes, market structure, and "oversight" itself without real consequence. Regulators lead everyone to believe we have rules with teeth. SEC Chairman Paul Atkins is out here touting that the market is more secure and fair then ever. It's not true. Instead, they look the other way while naked shorting goes on, companies get damaged, and the fines are treated like a joke.
This isn’t some isolated screw-up. It’s the pattern. And it erodes trust in the entire market.
Now, circling back to MMTLP, thankfully, just two short days ago, the judge overseeing the Meta Materials bankruptcy proceedings has compelled FINRA to turn over data from their trade reporting facilities related to BOTH MMAT, and MMTLP (the preferred shares which were then exchanged for shares of Next Bridge Hydrocarbons, a company that is still ongoing and not in bankruptcy). Data that when supplied, provides transparency to investors who have been, in some cases, irreparably harmed. All of this comes much to the VISIBLE dismay of FINRA's attorney, who one could swear was going to break down and cry upon hearing the judge's ruling.
This situation with Barclays just further demonstrates the lengths FINRA will go to in an effort to NOT be transparent at all in their role as a "market regulator". Investors and/or a company DESERVE TO KNOW if their company was the target of naked shorting. But instead of simply releasing the data, FINRA will go to any lengths to protect and insulate these bad actors from potential claims for their THEFT. And make no mistake about it, it's theft PLAIN AND SIMPLE. When you then see how FINRA has fought every single solitary court proceeding calling on them to provide the very transparency that they are allegedly mandated to provide, you start to see the picture real clear: FINRA will spend hundreds of thousands if not millions of dollars to be opaque, rather then spend a fraction of that to provide transparency. Gee... I wonder why. The pattern is clear, and it stinks.
But as it relates to the MMTLP shareholders fighting for justice, the round room that FINRA was scurrying to find a corner to hide in just shrunk on them. I told you many times: We aren't going anywhere until this is resolved, and I hope every last one of your collective asses ends up on the chopping block when the data comes out.
And to the experts, journalists, and their tribe of trolls without any semblance of a life outside of social media, all of whom who still claim naked shorting does not exist: I very kindly ask you to read the below, and then very promptly go f (restraining myself)... get a life.
Thank you.
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Harleyhard08 retweetledi
Well said....
Wouldn't it be great if congress stepped in and mandated that all affected companies in this type of action get to see the data as well, in order to take action themselves if wronged?
This type of behavior would stop in ten seconds.
DrewDiligence@KarmaCollects
FINRA's BS "Enforcement" on Barclays: Why @FINRA is GUILTY of Regulatory Concealment. We're constantly told America has the most transparent, safest, most secure public markets on the planet, the "gold standard" for investors and companies brave enough to go public. Yet here we are again with FINRA handing out yet another limp slap on the wrist while demonstrating that they don't care AT ALL about market integrity or individual investors. Let's look at this Barclays case, and why this "regulatory action" is a slap in the face to public companies and investors alike. In their recent Letter of Acceptance, Waiver, and Consent (AWC), Barclays admitted to executing 25,711 short sale orders in equity securities between December 2020 and May 2022 without bothering to locate borrowable shares. That's a straight-up violation of Rule 203(b)(1) of Reg SHO... the "locate requirement". This rule is designed to prevent exactly this kind of naked short selling, but here it is happening in broad daylight. On top of that, from December 2020 all the way through September 2023, FINRA failed to maintain any reasonably designed supervisory system to catch this crap. Reused trading accounts with leftover "market maker" coding just let them skate by, and FINRA's response? A measley $140,000 fine plus a censure. No admission of guilt, of course. Just the usual "without admitting or denying the findings." Now think about that for a second. 25,711 improper short orders over 18+ months. How much cash do you figure Barclays and their clients made off those trades? Do you know how insanely profitable shorting without locates in potentially hard to borrow names can be? These practices depress prices, triggers stops, and creates synthetic supply that never actually existed... all at the SAME TIME! We're talking potential millions (or more) in profits, fees, and spreads for a massive global bank like Barclays, whose overall profits run in the billions annually. All while the investing public is literally stolen from in the process. And FINRA hits them with pocket change fines? $140k is literally nothing to these institutions. It's a fraction of their cost of doing business. Less than a rounding error. And yes, similar Reg SHO cases against big players have seen fines in the $2M–$5M range for thousands of violations, but compared to how much they MADE on this conduct? This isn't enforcement... it's a fking participation trophy for breaking the rules. As if you needed further proof of how FINRA protects bad actors while making investors a sacrificial lamb, lets tie in the MMTLP situation. Both the issuing company's estate, and the Next Bridge Hydrocarbons spinout company, and all investors involved in BOTH, have been screaming for a full share audit, blue sheets, and real transparency around the December 2022 trading halt and alleged naked short positions. One hedge fund alone (Anson Funds) has allegedly admitted to being short 10 million shares, nearly 4x the reported total of 2.65 million short shares that FINRA has stated on the record. Around a HUNDRED congressional members total have advocated for this data to be turned over, and FINRA balked at every single one of their requests. Yep... instead of handing over the data and letting the facts come out, FINRA has battled investors in court at every turn, resisting subpoenas, claiming it's too "burdensome," and burning through serious legal fees to keep the details hidden. Now... here's what really pisses me off: The companies whose stocks get caught up in this Barclays mess? They get zero notification. Nothing. Not a single ticker named in the AWC. Just vague talk of "equity securities." So if your company's share price was artificially depressed by this naked shorting, if your hardworking investors got screwed by phantom shares that shouldn't have existed in the most "free and fair markets in the world"... too fkin bad. Go play detective with old threshold lists and short interest data if you want. Spend a fortune on lawyers and forensic analysis just to figure out if you were targeted. FINRA ain't helping, and as the MMTLP situation demonstrates, will likely spend money to fight having to be transparent with you. Meanwhile, when some company has a data breach and your personal info gets stolen, you get a nice letter in the mail informing you of such, which is often followed by a settlement check of some kind. But when Wall Street players flood the market with synthetic shares that can tank your stock and strip you of your hard earned savings? Crickets from FINRA and the SEC. MONEY SPENT BY THE REGULATORS TO CONCEAL THE TRUTH. NO transparency. No help. And no one cares. This is supposed to be the most transparent market in the world? Gimme a fkin break. FINRA polices brokers with confidential investigations, generic public settlements, and fines so weak that they barely register. There's NOTHING transparent about it. No mandatory share audits. No one gets fired or HEAVEN FORBID criminally charged for what basically equates to printing counterfeit money. Then on the other side of it, no restitution to issuers or investors. No heads-up so companies can evaluate their legal options. Just more regulatory concealment that lets this shit fester and keep right on goin. So let's call it what it is. The system is built to protect the players, not the public companies or the hardworking investors upon whom our free markets were originally built. It has now become a fking blueprint for how to abuse loopholes, market structure, and "oversight" itself without real consequence. Regulators lead everyone to believe we have rules with teeth. SEC Chairman Paul Atkins is out here touting that the market is more secure and fair then ever. It's not true. Instead, they look the other way while naked shorting goes on, companies get damaged, and the fines are treated like a joke. This isn’t some isolated screw-up. It’s the pattern. And it erodes trust in the entire market. Now, circling back to MMTLP, thankfully, just two short days ago, the judge overseeing the Meta Materials bankruptcy proceedings has compelled FINRA to turn over data from their trade reporting facilities related to BOTH MMAT, and MMTLP (the preferred shares which were then exchanged for shares of Next Bridge Hydrocarbons, a company that is still ongoing and not in bankruptcy). Data that when supplied, provides transparency to investors who have been, in some cases, irreparably harmed. All of this comes much to the VISIBLE dismay of FINRA's attorney, who one could swear was going to break down and cry upon hearing the judge's ruling. This situation with Barclays just further demonstrates the lengths FINRA will go to in an effort to NOT be transparent at all in their role as a "market regulator". Investors and/or a company DESERVE TO KNOW if their company was the target of naked shorting. But instead of simply releasing the data, FINRA will go to any lengths to protect and insulate these bad actors from potential claims for their THEFT. And make no mistake about it, it's theft PLAIN AND SIMPLE. When you then see how FINRA has fought every single solitary court proceeding calling on them to provide the very transparency that they are allegedly mandated to provide, you start to see the picture real clear: FINRA will spend hundreds of thousands if not millions of dollars to be opaque, rather then spend a fraction of that to provide transparency. Gee... I wonder why. The pattern is clear, and it stinks. But as it relates to the MMTLP shareholders fighting for justice, the round room that FINRA was scurrying to find a corner to hide in just shrunk on them. I told you many times: We aren't going anywhere until this is resolved, and I hope every last one of your collective asses ends up on the chopping block when the data comes out. And to the experts, journalists, and their tribe of trolls without any semblance of a life outside of social media, all of whom who still claim naked shorting does not exist: I very kindly ask you to read the below, and then very promptly go f (restraining myself)... get a life. Thank you.
English
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Harleyhard08 retweetledi
@ChampionNBH @POTUS @VP @elonmusk @cvpayne Sorry, those are pie in the sky numbers. Sadly, been here this long, if we see anything we will be lucky.
English
#MMTLP well the shit is gonna hit the fan..$5,000 to $10,000 per share payout for the manipulation, thievery, fraud, complicity, collusion, using Govt oppression, RICO, Weaponization of Govt agencies & Securities Market Makers tools to commit robbery @POTUS @VP @elonmusk @cvpayne
Doc E@thedocespo
Bottom line: TRFs don’t run the market—they expose what happens off-exchange.
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$CLNV market cap at close on TUE 4/21: $25.3 million (1,711,013,580 shares x .0148). @FrankieTrades22 believes a fully operational 50 TPD WV plant would bring a valuation of around $90 million. If no more shares are issued, that’s a baseline of 5-6 cents a share by July-ish.
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🚨FINRA fines Barclays Capital for alleged violations of Regulation SHO🚨
Interesting. $140,000 fine for “NAKED-SHORTING” securities. Blatant fraud.
fxnewsgroup.com/forex-news/reg…
$MMTLP $MMAT #MMTLParmy
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@WilliamPFarran1 😂😂😂😂. This guy is just awesome! Someone please get this guy a girlfriend or just a friend to get him off the Internet. Anyone new will be very hurt by his crap stocks.
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Railtown AI Technologies. What do you have in your wallet? Buy $RLAIF NOW! (NFA) x.com/i/broadcasts/1…
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Harleyhard08 retweetledi
Harleyhard08 retweetledi
Harleyhard08 retweetledi
Major Update: $MMAT & $MMTLP Legal Developments
In my opinion, this is a massive win for the community. Here is the breakdown of the court's recent decisions regarding FINRA’s motions to quash and the difference between the two types of trading data involved:
1. FINRA’s Motion to Quash: DENIED
Data Source: TRF (Trade Reporting Facility)
• The Focus: Transaction-level data.
• The Purpose: Used for regulatory transparency and clearing.
• The Scope: Identifies the executing and contra-side broker-dealers.
• Note: This data does not reveal the end customer, but it is a critical step for transparency.
2. FINRA’s Motion to Quash: GRANTED
Data Source: CAT (Consolidated Audit Trail)
• The Focus: Specific customer-level identifiers.
• The Purpose: Connects trades directly to the specific individuals or entities that placed them.
• The Scope: Requires detailed information on allocations and representative orders.
The Bottom Line: While the CAT data remains protected for now, gaining access to the TRF data is a significant step forward in uncovering the mechanics of these trades.
What are your thoughts on this outcome? Comment below!
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@WilliamPFarran1 Yes!!!! Buy today never lower...till it is. What a buffoon
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Go ahead, make the play, buy $RLAIF today! (Corny?) (NFA) x.com/i/broadcasts/1…
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Harleyhard08 retweetledi
Set a reminder for my upcoming Space! twitter.com/i/spaces/1PKqr…
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Harleyhard08 retweetledi
This is a very interesting new case vs #Anson and a few others, relevant to #MMAT/#MMTLP and many others affected by these bad actors, from my initial read they have an entire team.
I wonder which of the shills in our community know
Mr Kassam on a first name basis… I have a few in mind who are yapping almost every night. 🤡
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