I questioned a trader who works for a large investment management company about naked shorting and his reply was "I do it all the time". He did say that he had to declare each short sale. But if he is naked shorting what is stopping him from not declaring each naked short? He is not working for a brokerage house so there is no danger of the company loosing it's trading license. The OSC could only come after him - as the company could always deny that it knew it was happening. And we all know that the OSC is a toothless entity. Isn't naked shorting against the law? Why not go one further and not declare the transaction? AFS