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April 16 (Reuters) – The online brokerage OptionsXpress and
five individuals were charged by the U.S. Securities and
Exchange Commission with involvement in an abusive naked
short-selling scheme.
The SEC on Monday said the scheme involved a series of sham
transactions, violating a regulation requiring that equity
securities be delivered when due.
Four OptionsXpress officers and a customer were charged by
the SEC. Three of the officials settled without admitting or
denying the regulator’s findings.
The SEC said the misconduct lasted from at least October
2008 to March 2010. Charles Schwab Corp bought
OptionsXpress last year.
