Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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From: pcyhuang	4/12/2009 12:19:04 AM
	1 Recommendation of 5034

Clarification of the Five measures aim to put stop to abusive short selling The Securities and Exchange Commission on Wednesday proposed five separate ways to curb abusive short selling, responding to mounting political pressure to replace the “uptick rule”. The five proposals will be subject to a 60-day comment period after which the SEC is expected to opt for one of them. One proposal would reinstate the previous form of the rule, that allowed for short sales only when the last tick in a stock’s price was up. A second proposal would allow short sales only when a stock price is at least one cent above the best national bid for it. The other three proposals feature “circuit breakers” that would be triggered once certain criteria were met and would ban short selling in a particular stock for the remainder of a trading day. One of these would ban short selling outright in a particular security for the rest of the day if there were a severe decline (10 per cent or more) in its stock price. Two alternative tests were also proposed. One would prevent the shorting of a security for the rest of the day if it suffered a severe decline in price below the best national bid. The other would prevent short selling for the rest of the day if there was a severe decline in price below the last sale price. Source: ft.com Cheers,

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