SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: basserdan8/12/2008 5:13:28 PM
  Read Replies (2) of 5034
 
SEC working on short-selling proposals: report

Tue Aug 12, 2008 7:11am EDT

(Reuters) - The U.S. Securities and Exchange Commission is working to unveil a proposal next month that would permanently tighten existing rules for short selling, the New York Post said citing people in talks with the agency.

The sources told the paper the SEC's staff is considering the expansion of the temporary rule put in place last month to combat abusive short selling.

Another option being debated involves imposing fines on people who fail to deliver borrowed shares within the mandatory three-day period, the sources said.

Last month, the SEC imposed a temporary rule that requires investors to borrow stock before executing a short sale in 19 major Wall Street firms such as Citigroup and Lehman Brothers, as well as mortgage finance groups Freddie Mac and Fannie Mae.

Investors who bet on falling stock prices also have been required to deliver the securities by the settlement date.

The emergency rules, which expire later on Tuesday, were a part of a crackdown on possible market manipulation that some blame for steep declines in the shares of financial companies.

The SEC's new proposal is slated to be unveiled in mid September but could take months to finalize, the paper said.

The SEC was not immediately available for comment.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by David Holmes)

reuters.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News