RYVYL announced the Company will join the fight against naked short selling. After examination of the trading patterns of its common stock, RYVYLleadership noticed some suspicious activity meriting a formal investigation. The Company will continue to review past and present trades for potential violations, specifically with regards to Regulation SHO. Rule 200(g) of Regulation SHO requires Broker-Dealers to mark each trade as "Long", "Short", or "Short Exempt" – there are no other options. Further, Rule 203(b)(1) of Regulation SHO requires BDs to "locate" the underlying security and ensure that it is borrowed, reasonably available to be borrowed, or entered into a bona fide arrangement to be borrowed. RYVYL is taking the principle of protecting shareholders seriously. The Company applauds efforts made in recent days by the Genius Group Limited and is taking steps to follow the same efforts in order to investigate, identify and work with regulators to prosecute any naked short violators trading in RYVYL stock. Additional information will follow as appropriate.
Published first on TheFly
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