SEC charges OptionsXpress over naked short selling
April 16 (Reuters) - The online brokerage OptionsXpress and five individuals were charged by the U.S. Securities and Exchange Commission with involvement in an abusive naked short-selling scheme.
The SEC on Monday said the scheme involved a series of sham transactions, violating a regulation requiring that equity securities be delivered when due.
Four OptionsXpress officers and a customer were charged by the SEC. Three of the officials settled without admitting or denying the regulator's findings.
The SEC said the misconduct lasted from at least October 2008 to March 2010. Charles Schwab Corp bought OptionsXpress last year.
- South Korea expands air defense zone to partially overlap China's |
- Dynasty's Congress party punished in Indian state elections
- U.S. war veteran released by North Korea returns home |
- Thai PM proposes referendum on her future as protesters prepare big push
- Pennsylvania newlyweds "just wanted to murder someone together:" police