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Get Naked (Shorts)

Fans of enemies of naked shorting, rejoice. Settlement (no admission of guilt, innocence, neutrality, etc.) for the first enforcement actions brought for the vile enemies of all Christian civilization is at hand.

Hazan and the company were accused of betting that share prices would fall without borrowing and delivering the shares, the SEC said in a statement today. Regulations adopted in July require brokers to identify a source of the shares prior to a short sale and to deliver the securities by a certain date. The SEC also barred Hazan from working with any brokerage.

And just in case you thought these sorts of things didn't travel in pairs:

In a separate case, the SEC settled similar claims against TJM Proprietary Trading LLC, ordering payment of $541,000 in disgorgement. The suit named trader Michael Benson and Chief Operating Officer John Burke, who will pay $250,000 in fines together with the company.

Maybe it is just us, but when the first actions against the practice involve cases with "complex options transactions," you are simply trying too hard.
Hazan Capital Settles SEC's First Claims of 'Naked' Short Sales [Bloomberg]