SEC tightens rules further on short selling
The US Securities and Exchange Commission (SEC) has released new rules on short selling, aimed at preventing sustained declines in stock prices. Rule 201, published yesterday, includes a 'circuit breaker' that would trip if the price of a security fell more than 10% during a day of trading. After the circuit breaker had been tripped, short selling would be banned unless the price was above the current best bid. The objective of this rule, known as the alternative uptick rule, is to stop short
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