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Series 7: 15.3.3.1 Naked Short Selling

Taken from our Series 7 Top-off Online Guide

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15.3.3.1 Naked Short Selling

Naked short selling is selling short without first borrowing or arranging to borrow the securities in advance of the sale. This practice is especially risky because the seller may not be able to borrow the security at settlement time. When sellers do not deliver the sold securities to buyers within the two business day settlement period, it is called a “failure to deliver.�

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Solomon Exam Prep Study Materials for the Series 7

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