Retailers a fair chnace. Stopping unjust manipulation from MM like NITE SBSH and Etrade. We'll see.
October 15th
SEC Regulation SHO sets out rules governing short sales, including the mandatory close-out requirement that applies to securities in which a substantial amount of fails to deliver have occurred ("threshold securities"). Clearing agency participants and broker-dealers for which they clear positions ("participants") must take immediate action to close out a fail to deliver position in a Threshold Security that has lasted for 13 consecutive settlement days by purchasing securities of like kind and quantity ("close-out requirement").
The amendment eliminates one of the exceptions to the Close-out Requirement for fails to deliver established prior to a security becoming a Threshold Security ("grandfather provision"). The amendment requires Participants to close out any previously-grandfathered fails to deliver in a security that is on the Threshold Security List on October 15th. The close-out must occur within 35 consecutive settlement days of October 15th. If a security becomes a Threshold Security after October 15th, all fails to deliver must be closed out within 13 consecutive settlement days.
And many a stock PPS should see a nice bounce, if they stand by the ruling.