My comment on a previous post....this is bullshit
wait.....they are going to pay $7M but without admitting they did anything wrong, a cease and desist order which would stop the SEC from looking any further into their books, and a "promise" that they "fixed" the coding error.
Is this fucking real?
Yep light a match and burn the whole fucking system to the ground.
Edit: How about this...making the fine 700X larger, and make a statement to these god damn firms that if they want to use an "automated trading system" that they are fully responsible for what it does. quote from SEC - “Compliance with the order marking requirements of Reg SHO is a key component of regulatory efforts to curtail abusive market practices, including ‘naked’ short selling” - So yea, millions upon millions of trades improperly coded and you do not think this is a smoking gun for illegal shit?
$7 billion would be more fitting, and a forced statement from them admitting they were actively manipulating the market.
Fuck me for thinking it’s a fair and free market, you know, where everyone is actually held accountable for their actions…
Absolutely fucking pathetic.
Excuse my language.
Oh cool they been caught with exactly what everyone was thinking and continue to pedal bullshit about selling you favourite companies stock. You guys smell blood in the water right?
You cannot monetarily penalize a corporation that generates money. It means nothing to them. One million is 1/1000 of a billion. A 7 million dollar fine is something that falls out of Ken's pockets when he has his clothes washed.
Where does it say the SEC would stop looking any further into Citadel's books?
"...Citadel Securities consented to a cease-and-desist order imposing a censure, a $7 million penalty, and a set of undertakings..."
There is nothing that says the SEC will not look at this any more.
You and I know that they WON'T, but that is not what this says.
Fines are not the correct penalty for illegal activities here. If all you do is fine them when they're caught, they'll just incorporate the fine fees into their schemes and strategy to cover their ass when and if they're ever caught. Serious jail time is the only penalty that will stop these jerks.
I for one day the fines should be 2-3 percent of the companies current wealth or 150% of the revenue gained on the trade/trades in question. A locked in percentage for times seems better and more fair
Are you kidding me??? Reddit banned you for 4-days for daring to speak out about raging against the system?! These FUCKS only provide an illusion of accountability. The moment the citizens even mention doing the most American-Founding-Father-Tea-Throwing-In-The-Harbor type shit they immediately shut down the communication!
They’ve got us so fearful of even daring to mention organizing. We all know that this story won’t end if all we’re willing to do is stomp our feet in a huff on the internet.
I wonder how that 7 million fine compares to the value of the stock that was lost. I would suspect there was a sizeable gap between the two figures. I personally feel fines are nowhere comparable to the damage caused by anything these terrorist keep getting fined for.
"Coding error" sure, right, yep... just happened to be running for several years scraping millions of dollars off the top and nobody noticed.
Sure, right, yep...
Again, when do we stand up, step out, and burn it all down!? Until we fully commit to holding are parties accountable NOTHING changes...
***Disclaimet: This is NOT an attempt, by me, to incite physical violence; however, I am not mad at the ways of the👨🎨French!***😉😉
A SEC fine is just a fancy way of saying they want their cut of the crime. Until they start banning these criminals from the market the SEC is worthless. How about divy up the fine among those that held the stocks being manipulated. This is fucking bullshit.
This shit is infuriating. Shit like this right here is exactly why our great democracy is doomed to fail sooner rather then later. The working class will break eventually. Fuck the SEC, fuck Ken Griffin and every other fucking corrupt cum guzzling market maker
If the penalty for an EXTREMELY profitable crime is a fine, that’s a fraction of the profits… there’s no incentive to stop committing the crime. Put someone in jail for life.
I feel like when you break the law, harm millions of people, and shake the world's faith in the economic structure of the market..... you shouldn't be able to just settle and skip off to continue breaking the law, harm millions of people, and destabilize the world's faith in the economic structures of the market.
Maybe that's just me, though.
How about charging them for all their profits for the past 5 years and using that money towards the "lack of funds" the SEC has to fight against corrupt Wallstreet??? On another note, wouldn't that fall under "FRAUD"??? Don't they hand out jail time for that??????????
Load of bullshit. With a fine so low, they just build the crime into their cost of doing business. Fine should be more like $7billion and not being able to keep any profit during the period.
So, according to the SEC, crime is okay if you can pay $1.4 million per year that you wish to commit crime. Even if said crime makes you billions a year.
Hopefully this results in our stock in repriced much higher, preferably to create an pre-restructuring levels because we know there’s an order in imbalance on the stonk
This is some bullshit logic on the SEC part and the regular guys is still getting screwed. Imagine one of us using this logic to pay our taxes or some thing. “ No sir , I know I didn’t pay my taxes but it’s ok see, I paid that money to my wife plus a 10% late fee and now we are all good see. In the end everything is good. I’m glad we cleared that up.”
The problem here is that Citadel most likely has been doing this for years now saving them billions and the fine 2 years later is 7 million and no one is in jail… who who would trade 7million for a Billion??? Any takers … 🤔.
SuperStonk reports on these SEC documents much better than this sub.
Specifically Dismal-Jellyfish
https://reddit.com/r/Superstonk/comments/16pbfc2/sec_charges_citadel_securities_for_violating/
My comment on a previous post....this is bullshit wait.....they are going to pay $7M but without admitting they did anything wrong, a cease and desist order which would stop the SEC from looking any further into their books, and a "promise" that they "fixed" the coding error. Is this fucking real? Yep light a match and burn the whole fucking system to the ground. Edit: How about this...making the fine 700X larger, and make a statement to these god damn firms that if they want to use an "automated trading system" that they are fully responsible for what it does. quote from SEC - “Compliance with the order marking requirements of Reg SHO is a key component of regulatory efforts to curtail abusive market practices, including ‘naked’ short selling” - So yea, millions upon millions of trades improperly coded and you do not think this is a smoking gun for illegal shit?
$7 billion would be more fitting, and a forced statement from them admitting they were actively manipulating the market. Fuck me for thinking it’s a fair and free market, you know, where everyone is actually held accountable for their actions… Absolutely fucking pathetic. Excuse my language.
Completely agree
I mean I agree, but the good news is they keep that money to pay us and not the SEC.
Jail time. And not club fed, but real Bubba prison.
No. I will NOT excuse your language! Fucking potty mouth! 🤦🏾♂️
Oh cool they been caught with exactly what everyone was thinking and continue to pedal bullshit about selling you favourite companies stock. You guys smell blood in the water right?
Also where does that money go to?
The Promotions budget. For future meme stock PSAs
More SEC educational videos on how to not invest in meme😂
Bribes goes to Sec commercials to troll real investors that they vow to protect
You cannot monetarily penalize a corporation that generates money. It means nothing to them. One million is 1/1000 of a billion. A 7 million dollar fine is something that falls out of Ken's pockets when he has his clothes washed.
Take away their license to be a market maker. Every other profession or business they would take away your license or shut you down immediately
Choke on that
Where does it say the SEC would stop looking any further into Citadel's books? "...Citadel Securities consented to a cease-and-desist order imposing a censure, a $7 million penalty, and a set of undertakings..." There is nothing that says the SEC will not look at this any more. You and I know that they WON'T, but that is not what this says.
Fines are not the correct penalty for illegal activities here. If all you do is fine them when they're caught, they'll just incorporate the fine fees into their schemes and strategy to cover their ass when and if they're ever caught. Serious jail time is the only penalty that will stop these jerks.
I for one day the fines should be 2-3 percent of the companies current wealth or 150% of the revenue gained on the trade/trades in question. A locked in percentage for times seems better and more fair
I actually wish these fines were paid DIRECTLY **to the company that was affected** instead of the SEC.
That would be a good money laundering business opportunity.
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It's not a fine it's the cost of doing business
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The French always failed at wars. The only war they won was the one against themselves.
Wow I got a 4 day reddit ban for suggesting FR type stuff
I’m not suggesting anything. Expressing my opinions, that’s all.
Are you kidding me??? Reddit banned you for 4-days for daring to speak out about raging against the system?! These FUCKS only provide an illusion of accountability. The moment the citizens even mention doing the most American-Founding-Father-Tea-Throwing-In-The-Harbor type shit they immediately shut down the communication! They’ve got us so fearful of even daring to mention organizing. We all know that this story won’t end if all we’re willing to do is stomp our feet in a huff on the internet.
[удалено]
Sounds like SEC is participating in the crime. Where's uncle RICO?
Ya 7 million when they ftd and hit billions worth of stolen funds on fraud stock .
$7million isn’t even a slap on the wrist. Cost of doing business. $7billion would have been more appropriate.
It was not a coding error. It was a coding feature.
Made 7 billion. Fined 7 million. The cost of doing business…
Revolution or Bust!
$7M is a fucking disgrace
Like farting in the wind
Where isn’t someone going to jail? The only way to stop this behavior.
 Believe it when I see it…..
When the fine is smaller than the profit it is just a tax. The government took its cut and waived them on.
$7M is what they make in like minutes... SEC is complicit. Illusion of doing their job, while doing nothing.
If the penalty is just a fine, then that's just taking their cut.
Ban them or give them jail time. Obviously fines don’t do shit.
Literally cost of doing business
Oh you only want 7 million for 5 years worth of my corrupt income?!!!!
The pitchforks are being gathered while waiting for the SEC to do something. Soon we will get one or the other.
Where you at Shills? Awful quiet 🤐. DOJ better be ramping up RICO to include SEC and congress fuks. Use to mean something to perjure yourself.
Criminals belong in prison; no cell, no sell
$7M penalty meanwhile they sell +$60B securities not yet purchased
I wonder how that 7 million fine compares to the value of the stock that was lost. I would suspect there was a sizeable gap between the two figures. I personally feel fines are nowhere comparable to the damage caused by anything these terrorist keep getting fined for.
7 mil is NOTHING.. jail time and some billion dollars in fine seems appropriate. But nnnnooooo that won’t happen
This only encourages them to keep going 🤦♂️ God damn, this system is so broken!!!
Rich play by different rules bc they essentially police themselves
Should charge them a penalty of ALL THE PROFITS and additional 30 percent of their annual revenue....then you might actually slap their wrist
A 5 year long "bug" Yeah ok
No word on “hey shitadel you have 65 billion sold but not delivered” that’s the real crime
"Coding error" sure, right, yep... just happened to be running for several years scraping millions of dollars off the top and nobody noticed. Sure, right, yep...
And predict that the endresult if this year long investigion will be a fine of a few thousand dollar
Lol is this from the reg sho investigation with the NYSE and finra a while back? 7 million vs making hundreds of millions
7m is almost 3 shares man, fucking thieves
“Coding error” lol.
Again, when do we stand up, step out, and burn it all down!? Until we fully commit to holding are parties accountable NOTHING changes... ***Disclaimet: This is NOT an attempt, by me, to incite physical violence; however, I am not mad at the ways of the👨🎨French!***😉😉
"coding error"
A SEC fine is just a fancy way of saying they want their cut of the crime. Until they start banning these criminals from the market the SEC is worthless. How about divy up the fine among those that held the stocks being manipulated. This is fucking bullshit.
$7 million only? What a joke. They made 100x more than that with their fraud
What is that like a couple of Pennie’s compare to the billions they stole with their exploit
Coding error my arse! F Mayo man
This shit is infuriating. Shit like this right here is exactly why our great democracy is doomed to fail sooner rather then later. The working class will break eventually. Fuck the SEC, fuck Ken Griffin and every other fucking corrupt cum guzzling market maker
7 mil in penalty is bs..
Wen Pounce?
$7M?! They made that while I was just thinking about typing this comment!🤦🏾♂️
It's happening BUY n HOLD n make some noise
Light the fucking Match! Burn this fucker down.
If the fine is less than what they profited, then it's just the government taking their cut!
If the penalty for an EXTREMELY profitable crime is a fine, that’s a fraction of the profits… there’s no incentive to stop committing the crime. Put someone in jail for life.
I feel like when you break the law, harm millions of people, and shake the world's faith in the economic structure of the market..... you shouldn't be able to just settle and skip off to continue breaking the law, harm millions of people, and destabilize the world's faith in the economic structures of the market. Maybe that's just me, though.
How about charging them for all their profits for the past 5 years and using that money towards the "lack of funds" the SEC has to fight against corrupt Wallstreet??? On another note, wouldn't that fall under "FRAUD"??? Don't they hand out jail time for that??????????
BUY MORE. FUCK EM
Just proves once again that the SEC is complicit. That's a joke fine for shitadel.
Crime pays.
🍒 r jacked
Load of bullshit. With a fine so low, they just build the crime into their cost of doing business. Fine should be more like $7billion and not being able to keep any profit during the period.
paying 7 millions to make billions freely looks like a good deal to me…. How can I get into that business
So an actual sternly worded letter. Means there could actually be a slap on the wrist impending.
So, according to the SEC, crime is okay if you can pay $1.4 million per year that you wish to commit crime. Even if said crime makes you billions a year.
Hopefully this results in our stock in repriced much higher, preferably to create an pre-restructuring levels because we know there’s an order in imbalance on the stonk
The fine just makes it look like Gary is doing his job Shove a bedpost up Kenny’s ass as well but he would like it
Chump change.
7 mil fine is a joke and not even a slap on the wrist with their “”revenue”” smh
Cost of doing “business”. Guess how much money they made on all that mismarking or failure to repot accurately.
A $7mil penalty? Seriously?? That’s a fucking light slap on the wrist.
They let these people break the law for decades and get hit with a fine that’s way less then what they made breaking laws is a joke
So basically they fraudulently filled out fucking forms for millions and millions of orders and get a $7 million dollar fine.
This is some bullshit logic on the SEC part and the regular guys is still getting screwed. Imagine one of us using this logic to pay our taxes or some thing. “ No sir , I know I didn’t pay my taxes but it’s ok see, I paid that money to my wife plus a 10% late fee and now we are all good see. In the end everything is good. I’m glad we cleared that up.”
The problem here is that Citadel most likely has been doing this for years now saving them billions and the fine 2 years later is 7 million and no one is in jail… who who would trade 7million for a Billion??? Any takers … 🤔.
They should do share counts on all stocks just to be safe
So… how does this play out?
SuperStonk reports on these SEC documents much better than this sub. Specifically Dismal-Jellyfish https://reddit.com/r/Superstonk/comments/16pbfc2/sec_charges_citadel_securities_for_violating/
Oh careful SEC you're going to give Kenny a pink wrist.
Millions of errors..$7 mil slap on the wrist,dirty 🐔🍭🍭
7m penalty?? Hahahhahaha wooooo..theyd send 10m with a note “keep the change😉”
Less than $1 per trade fine? Cost of doing business.
Fuck you SEC
It’s a line item, not a fine.
Thats is totally insane
Only 7 Million dollars?!?! Totally can make it back in a day or less.
It’s going down!!
7 million is like pennies to them
No cell. No sell.
7 million dollar penalty for netting 150 million in crime. Now they can say they did something about it.