i'm reporting comsec to asic, page-49

From what has been said the behaviour of Commsec towards it's clients has been poor.

However, a more important issue is that of the naked short selling, which as far as I can make out has been banned in Australia since 2008.

In this case the seller(s) has clearly been selling naked, as the seller has been proven to be unable to come up with the shares.

Could I suggest that all those that have been affected by the naked short selling of BTA lodge a complaint with ASIC, and then also refer the existence of your complaint to various media outlets (eg AFR, SMH/Age and even Murdoch papers). It might even be worth passing it on to Bill Shorten, Financial Service Minister, who has just released some minor changes to HFT.

I further suggest that the complaint be couched in terms of the naked short seller(s) being caught out and that this is clear evidence of the naked short selling.

In normal trading (where a company will continue to trade the following day) and given a deferred settlement that allows selling and buying to be spread over two days, naked short selling is not detected.

This raises a serious question of exactly how much naked short selling is happening on the ASX.