June 14, 2022

Weiss Asset Management LP will pay $6.9 million for its Rule 105 violation, i.e., short selling stocks and then purchasing the same stocks in public offerings. Weiss sold short the stocks, despite the stocks being under a 5-day restricted period. Weiss regularly miscalculated the applicable restricted period and dismissed internal red flags alerting them to the potential noncompliance. SEC

Tagged in: Securities Fraud,