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AAP
AAP
Business
Derek Rose

Former Syd fund manager banned for naked short selling

ASIC Australian Securities and Investments Commission Australia
ASIC says the banned practice of naked short selling can distort financial markets. (Joel Carrett/AAP PHOTOS) (AAP)

The securities regulator has banned a former Sydney fund manager from providing financial services for three years after he engaged in a prohibited securities manoeuvre on over 150 occasions in 2021.

The Australian Securities and Investments Commission said on Monday that former Gleneagle Securities fund manager Gregory Tolpigin engaged in the naked short selling of over $7 million in shares from January to August of 2021.

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