SEC charges two US firms with ‘improper short selling’

WASHINGTON, DC – The US Securities and Exchange Commission (SEC) has charged two Californian investment firms with engaging in improper short selling of securities in advance of their participation in a company’s secondary offering. The market abuse cases against Los Angeles-based fund management firms AGB Partners and Palmyra Capital Advisors mark the first use by the US regulator of its amended Rule 105 of Regulation M, designed to prevent market manipulation.

AGB principals Gregory Bied and A

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