Whistleblower Vindicated: Massive Trading Firm Knight Capital Charged With Abusing “Naked Shorts”

Jason Blatt of Knight Capital Americas, LP reacts to down market on the floor of the New York Stock Exchange August 8, 2011. US stocks plummeted more than five percent on Monday, with the Dow Jones Industrial Average losing 625 points in the wake of Standard & Poor's unprecedented downgrade of the United States. The Dow was down 5.5 percent to 10,813.26 in closing trade, its lowest close since last October, while the broader S&P 500 fell 6.6 percent and the tech-heavy Nasdaq dropped 6.9 percent. AFP PHOTO / Stan HONDA (Photo credit should read STAN HONDA/AFP/GettyImages)

Finra charged KCG on October 31 with thousands of violations of the SEC rule banning abusive “naked” short selling.

The Intercept
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