SEC extends short selling ban
The US Securities and Exchange Commission (SEC) has extended its ban on the short selling of financial stocks to October 17, in order to give the US Congress time to vote through measures aimed at stabilising the financial markets.
Regulators in Europe and Asia have also introduced short selling bans of their own, causing concern there may be different interpretations of the rules in different jurisdictions. “Some are using the FSA’s rules as a basis, but the rules in some markets are very unclear,” the equity derivatives trader says.
See also: SEC to ease mark-to-market rules
Short selling ban could hit derivatives business
Naked short-selling banned in Australia
SEC and FSA ban short selling on financials
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