Worldwide regulators ban short selling; markets surge

REGULATORY UPDATE

LONDON/WASHINGTON, DC - UK, US and Australian securities regulators have issued a temporary ban on short selling in a co-ordinated international attempt to increase investor confidence and buck freefalls in bank share prices. The Securities and Exchange Commission (SEC) introduced its shorting ban for 799 firms on September 19, the same day as the Australian regulators. The US regulator says it is "acting in concert" with the UK Financial Services Authority's (FSA) ban regarding 29 affected firm

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