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If SEC decides at some point that this was pump-and-dump scheme (even crowdsourced), the Citadel may become liable for enabling that scheme, even if they do not
by warkdarrior 6y ago
If SEC decides at some point that this was pump-and-dump scheme (even crowdsourced), the Citadel may become liable for enabling that scheme, even if they do not run it themselves.
- whimsicalism 6y agoI think it is much more likely that Robinhood is liable than the liquidity provider for Robinhood.
- cameldrv 6y agoIt seems unlikely to me that Citadel would be liable. They're just processing bulk transactions -- they have no direct contact with customers. You could just as well blame the NYSE.
- ethbr0 6y agoThey were just processing bulk transactions. If it's true they refused to process for certain securities for their downstream clients, then I believe "When?" and "Why?", specifically in relation to other actions, become legally relevant questions.